Nigerian Market Capitalization Surges by N2.64 Trillion

On October 26, investors in the Nigerian equities market gained N2.642 trillion, with market capitalization advancing to N163.16 trillion. The All-Share Index (ASI) increased by 4,068.27 points, or 1.65 percent, closing at 251,290.54.

This growth was attributed to renewed investor confidence and sustained buying interest, particularly in large and medium capitalized stocks such as Dangote Cement, Aradel Holdings, Nigerian Exchange Group, First Holdco, and Guaranty Trust Holding Company (GTCO). Despite the positive advance, market sentiment was negative, with a breadth of 0.8x, as 24 stocks gained while 30 lost.

Dangote Cement led the gainers with a 10.00 percent increase to N1,222.10 per share, followed by Honeywell Flour Mills and Royal Exchange. Conversely, ABC Transport topped the losers, dropping 9.59 percent to N6.60 per share.

The total volume traded decreased by 6.9 percent to 329.53 million units, valued at N25.45 billion, with Zenith Bank leading trading activity.