Less than a month into the New Year, the Nigerian Exchange Limited has achieved double-digit year-to-date gains, signaling a sustained bullish trend.
At the close of trading on Friday, the benchmark All-Share Index reached 83,042.96 basis points, reflecting a YTD return of 11.06 percent. The market capitalization of listed equities also increased by 4.24 percent week-on-week, reaching N45.442 trillion.
The notable gains were driven by increased value in key equities such as Cadbury Nigeria Plc, Veritaskap, Linkage Assurance Plc, and Mcnichols Plc. Additionally, the industrial goods sector experienced a 4.80 percent increase, fueled by heightened buying interest in companies like Julius Berger, RT Briscoe, and Lafarge Africa.
However, the oil & gas index recorded a decline due to sell pressure in TotalEnergies Marketing. The top three equities in terms of volume—Transnational Corporation Plc, FCMB Group Plc, and Fidelity Bank Plc—contributed significantly to the total equity turnover volume and value.