Equities Market Begins August On Bullish Note, Gains N289bn
The Nigerian equities market began August 2026 with a bullish performance, adding N289 billion to its total market capitalization. Despite the overall gains, investor sentiment remained mixed with a higher number of decliners compared to advancers.
Why it matters
This provides a snapshot of economic health and investor confidence in the Nigerian financial sector, which is a key indicator for regional emerging market stability.
Nigerian equities market began the month of August 2026 on a bullish note, recording N289 billion in gains on the first trading day.
The All-Share Index (ASI) gained 446.85 points, representing a gain of 0.18 per cent to close at 245,730.53 points. Also, market capitalisation rose by N289 billion to close at N158.614 trillion.
The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Vitafoam Nigeria, MTN Nigeria Communications (MTNN), NASCON Allied Industries, First Holdco and HBM Nigeria.
Looking ahead, Cowry Assets Management Limited said, the market is expected to sustain its bullish trend as investor sentiment tilts increasingly positive, though residual profit-taking activity from the prior week could temper the pace of any recovery.
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