Nigerian Stock Market Gains N8.48 Trillion in Three Days

The Nigerian stock market has shown positive momentum, gaining N8.48 trillion over three consecutive trading sessions. This increase was attributed to high investor demand for large-cap stocks, particularly Dangote Cement PLC, Airtel Africa PLC, and MTN Nigeria Communications PLC.

As of the last trading session, the market capitalization of the Nigerian Exchange Group (NGX) closed at N155.585 trillion, marking a 5.77% increase. The NGX share index rose by 229.24034 basis points, closing at 242,459.98 basis points.

Year-to-date, the market has returned 5.7%, with a significant gain of N3.168 trillion recorded at the beginning of the week. Analysts noted that the market's performance reflects sustained investor confidence and interest in large and medium-cap stocks.

Cowry Asset Management Limited indicated that the market is expected to maintain its recovery momentum as investors continue to rebalance their portfolios.