The Nigerian stock market reached a record market capitalization of N68 trillion, as investors gained over N842 billion in a single day. Trading on the Nigerian Exchange (NGX) ended on a positive note, with key market performance indicators surging by 1.25%.
The bullish trend was driven by strong buying interest, especially in the industrial sector. The Nigerian Exchange All-Share Index (ASI) increased by 1,349.29 basis points, reaching 109,171.82—representing a 1.25% gain.
Despite the market’s overall growth, total trading volume and value declined by 7.59% and 10.14%, respectively. According to Atlass Portfolios Limited, a total of 427.08 million units of shares, worth ₦9.2 billion, were traded across 16,342 deals.
Key market highlights:
- Top traded stocks by volume: UNIVINSURE led with 5.63% of total trade volume, followed by WEMABANK (5.50%), STERLINGNG (5.32%), AIICO (4.81%), and FIDELITYBK (4.43%).
- Top traded stocks by value: ZENITHBANK accounted for 9.18% of the total transaction value.
- Biggest gainers: DANGCEM, REGALINS, and SUNUASSUR topped the gainers’ chart with a 10% price appreciation each. Other top gainers included HMCALL (+9.98%), PZ (+9.96%), and HONYFLOUR (+9.95%).
- Biggest losers: GOLDBREW led the decliners with a 9.91% price drop, followed by ETERNA (-6.57%), MANSARD (-3.58%), and FTNCOCOA (-2.22%).
In terms of sectoral performance, four out of the five major market sectors recorded growth:
- The Industrial sector saw the highest increase, rising by 4.66%.
- The Banking sector followed with a 0.59% increase.
- The Consumer goods sector grew by 0.44%, and the Insurance sector edged up by 0.07%.
- However, the Oil & Gas sector was the only sector to decline, slipping by 0.23%.
Overall, the Nigerian stock market maintained a positive outlook, with the equities market capitalization climbing by ₦842.01 billion to close at ₦68.12 trillion.
