Nigerian stock marketgains N1.52 trillion in a day, pushing total market capitalisation above N161 trillion

Kayode Tokede

The Nigerian stock market continued its upward trajectory yesterday, with investors’ equity increasing by an estimated N1.52 trillion, pushing total market capitalisation past the N161 trillion threshold.

The Nigeria Exchange Limited All‑Share Index (NGX ASI) climbed 1,926.13 basis points, or 0.77 percent, to finish at 252,411.67 points. Month‑to‑date and year‑to‑date returns also rose, ending at +4.2 percent and +62.2 percent respectively.

Overall market capitalisation grew by N1.52 trillion, closing at N161.775 trillion.

Price gains in large‑ and medium‑cap stocks drove the market’s positive performance. Notable contributors included Aradel Holdings, Unilever Nigeria, PZ Cussons Nigeria, Nigerian Breweries and Vitafoam Nigeria.

Sectoral results were mixed. The NGX Oil & Gas index rose 3.4 percent, NGX Banking gained 1.9 percent and NGX Consumer Goods advanced 1.7 percent. In contrast, the NGX Insurance index fell 1.4 percent and the NGX Industrial Goods index slipped 0.5 percent.

Investor sentiment stayed upbeat, with market breadth positive: 45 stocks advanced while 32 declined. Ikeja Hotel and University Press posted the largest gains, each up 10 percent, closing at N39.60 and N4.40 per share respectively.

Zichis Agro Allied Industry followed with a 9.98 percent increase, closing at N40.35. FTN Cocoa Processors and Chams Holding Company each rose 9.97 percent, ending at N10.04 and N3.75 per share.

Among the laggards, Fortis Global Insurance led the decline, down 9.65 percent to N1.03 per share. Custodian Investment slipped 9.52 percent to N81.25, and NPF Microfinance Bank fell 8.33 percent to N5.50 per share.

AIICO Insurance dropped 7.74 percent to N4.41, while Honeywell Flour Mills lost 5.41 percent, closing at N17.50 per share.

Total trading volume rose 36.48 percent to 2.028 billion units, valued at N87.709 billion, across 80,888 deals. Shares of CWG led activity with 431.631 million shares traded, worth N9.495 billion. United Bank for Africa (UBA) followed with 403.087 million shares valued at N16.607 billion, and C & I Leasing exchanged 152.118 million shares worth N1.005 billion.

Fidelity Bank traded 81.669 million shares valued at N1.698 billion, while Honeywell Flour Mills transacted 72.376 million shares worth N1.237 billion.

Looking ahead, Cowry Assets Management Limited said the market is expected to maintain its positive momentum in Wednesday’s session, buoyed by continued investor optimism and strong buying interest across key sectors.