Nigerian Stock Market Adds N316bn as Bullish Run Extends

By Benson Daniel

Nigeria’s equities market extended its positive run on Wednesday, with investors’ wealth rising by about N316 billion as buying interest pushed the Nigerian Exchange (NGX) higher for a fifth consecutive session.

The market capitalisation increased from N158.399 trillion to N158.715 trillion, representing a gain of about N315.94 billion. The NGX All-Share Index also rose by 487.28 points, or 0.20 per cent, to close at 244,791.79 points.

The latest advance lifted the market’s year-to-date return to 57.31 per cent, reflecting the strong performance recorded by Nigerian equities so far this year.

Market breadth remained positive, with 34 stocks recording gains against 26 decliners. Sovereign Trust Insurance led the gainers, rising 9.69 per cent to N2.15 per share, while Champion Breweries gained 9.50 per cent to close at N10.95. Livestock Feeds, Learn Africa and Mutual Benefits Assurance also recorded significant gains.

On the losing side, Industrial and Medical Gases Nigeria declined 9.93 per cent, followed by John Holt, which fell 9.88 per cent. LivingTrust Mortgage Bank, Fidson Healthcare and Royal Exchange also recorded notable declines during the session.

Trading activity strengthened during the session, with 662.43 million shares exchanged in 63,271 deals, valued at about N37.45 billion. Sterling Financial Holdings recorded the highest volume, while GTCO accounted for the largest value of transactions at approximately N5.27 billion.

The continued market gains reflect sustained investor activity across several sectors, particularly banking, insurance and consumer goods. Insurance stocks recorded the strongest sectoral performance, while consumer goods and banking also closed higher.

Investor interest has also been supported by expectations surrounding major corporate activity in the Nigerian market, including the planned public offering of Dangote Refinery, which has generated significant attention among investors.

The latest performance further strengthens the position of the equities market as investors continue to seek opportunities for capital growth amid changing conditions across Nigeria’s financial markets.

However, continued gains could also encourage profit-taking by investors who have benefited from the recent rally, potentially resulting in increased short-term market fluctuations.