Nigerian Stock Market Surges by N3.2trn as Investors Return, Market Cap Hits N147trn

The Nigerian stock market recorded a strong recovery on Wednesday, gaining N3.204 trillion in market capitalisation as renewed investor confidence pushed the equities market above the N147 trillion threshold. The rebound reversed earlier losses and signaled a fresh wave of bullish activity across key sectors of the market.

The All-Share Index (ASI) rose by 4,977.51 points, representing a 2.23 per cent increase, to close at 228,579.80 points. In the same trading session, market capitalisation climbed to N147.174 trillion, reflecting improved sentiment among investors and renewed appetite for blue-chip stocks.

Market gains were largely driven by strong price appreciation in heavyweight stocks such as Presco, Aradel Holdings, BUA Foods, Dangote Cement, and Lafarge Africa. These stocks helped anchor the broader market recovery, as investors positioned themselves in key industrial and consumer names.

Despite the bullish performance, market breadth remained slightly negative, with 40 stocks declining compared to 39 gainers. Top performers included Industrial & Medical Gases Nigeria, FTN Cocoa Processors, and Lafarge Africa, which all rose by 10 per cent, while UBA led the laggards, falling by 10 per cent amid mixed sector performance.

Trading activity also surged significantly, with volume rising by 41.50 per cent to 959.63 million units valued at N70.47 billion across 74,848 deals. Access Holdings led in volume traded, followed by Fidelity Bank, Wema Bank, and Zenith Bank, highlighting strong participation from the financial services sector.

source; Leadership