Nigerian Stock Market Gains N1.10 Trillion in a Week

The Nigerian stock market advanced by N1.10 trillion week-on-week, closing at a market capitalization of N157.094 trillion. The All-Share Index (ASI) increased by 1.03%, closing at 244,775.83 points.

Year-to-date returns strengthened to 57.30%, underscoring sustained investor confidence in the domestic market. The market breadth was positive, with 79 stocks advancing compared to 27 declining.

The top gainers included Zichi Agro, which rose by 60.95% to close at N233.70 per share, and FTN Cocoa, which increased by 50.91% to N8.30 per share. Conversely, the Nigerian Aviation Handling Company (NAHCO) led the decliners, falling by 20.95% to N203.95 per share.

The total turnover for the week was 7.075 billion shares valued at N324.351 billion across 474,436 deals. Analysts expect the market to maintain a strong bullish outlook, driven by macroeconomic variables such as inflation trends and interest rates, despite potential short-term volatility due to profit-taking.