Nigerian Stock Market Surges N1.52 Trillion in One Day

On a single trading day, the Nigerian stock market experienced a significant gain of N1.52 trillion, raising the total market capitalization to N161.775 trillion. The NGX All-Share Index (ASI) increased by 1.926 points, or 0.77%, closing at 252,411.67 basis points.

Year-to-date returns settled higher at 4.2% and 62.2% respectively. The market's positive performance was driven by price appreciation in large and medium-cap stocks, including Aradel Holdings, Unilever Nigeria, PZ Cussons Nigeria, and Nigerian Breweries.

The sector performance was mixed, with the NGX Oil & Gas index rising by 3.4%, while the NGX Banking and Consumer Goods indices increased by 1.9% and 1.7%, respectively. Investor sentiment remained upbeat, with 45 stocks advancing against 32 declining.

Ikeja Hotel recorded the highest price gain of 10%, closing at N39.60 per share. The total volume of shares traded increased by 36.48% to 2.028 billion units, valued at N87.709 billion across 80,888 transactions.