Equities Market Adds N2.53trn In Bullish Week As ASI Rises 1.6%
The Nigerian equities market experienced a bullish week, with the All-Share Index rising 1.6% and market capitalization increasing by N2.53 trillion. Strong buying interest in blue-chip stocks like BUA Cement and MTN Nigeria drove the gains.
Why it matters
The performance of the Nigerian stock market serves as a key indicator of investor confidence and economic health within the region.
The Nigerian equities market sustained its bullish momentum last week, with investors gaining N2.531 trillion as the benchmark NGX All-Share Index (ASI) advanced by 1.60 per cent on the back of strong buying interest in blue-chip stocks.
Market capitalisation rose from the previous week’s level to close at N159.588 trillion, while the NGX ASI climbed to 247,357.40 points, driven by price appreciation in heavyweight stocks including BUA Cement, First Holdco, Zenith Bank and MTN Nigeria Communications (MTNN).
The market recorded a positive breadth, with 57 gainers against 38 losers, reflecting widespread buying across key sectors of the Exchange.
Leading the gainers’ chart was First Holdco, which appreciated by 25.59 per cent to close at N120.50 per share. It was followed by Unilever Nigeria, which gained 19.31 per cent to settle at N147.95, while Cadbury Nigeria rose by 18.42 per cent to close at N67.50 per share.
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