Nigerian Stock Market Surges N1.42 Trillion as Capitalisation Hits N111.6 Trillion

The Nigerian stock market gained N1.424 trillion in market capitalisation on Monday, bringing the total value of listed equities to N111.659 trillion, the Nigerian Exchange Limited (NGX) reported. This marks a strong start to the second week of February, extending the market’s bullish streak to six consecutive trading sessions.

The All-Share Index (ASI) climbed 2,218.73 points, or 1.29%, to close at 173,946.22 points, reflecting broad-based investor confidence. Analysts said the rally was fueled by renewed buying interest in medium and large-cap stocks, including Dangote Cement, Aradel Holdings, NAHCO, Skyway Aviation Handling Company, and Chemical and Allied Products (CAP).

Market experts from United Capital Plc noted that while the equity market is expected to remain positive, gains may be selective. Sectors like Oil and Gas, Industrial, ICT, Banking, and Breweries are likely to attract sustained interest, while Consumer Goods and Insurance stocks may experience weaker sentiment, with profit-taking tempering further upside momentum.

Market breadth was strongly bullish, with 58 advancing stocks outpacing 23 declining counters. CAP, Daar Communication, and May & Baker Nigeria led the gainers, each up 10%, while R.T. Briscoe, Zichis Agro Allied, NAHCO, and DEAP Capital Management & Trust saw increases of around 9.97%–9.98%. On the flip side, Eunisell Interlinked, Tripple Gee & Company, and Abbey Mortgage Bank recorded significant losses.

Trading volume, however, dipped 18.72% to 775.177 million units valued at N27.916 billion across 65,960 deals. Shares of Access Holdings topped activity charts with 67.144 million units traded, followed by Zenith Bank and Secure Electronic Technology, reflecting continued investor focus on high-performing, liquid stocks amid market optimism.

source: Leadership