Equities Market Extends Rally, Investors Gain N1.86trn in 14-Day Surge

Nigeria’s equities market closed the week on a bullish note, recording a N1.857 trillion gain as sustained investor confidence drove prices higher across key sectors.

Data from the Nigerian Exchange Limited showed that the market extended its rally to 14 consecutive trading sessions, underscoring strong buying interest and positive sentiment on the local bourse.

Market capitalisation rose by 1.29 per cent to N145.334 trillion from N143.477 trillion recorded in the previous session, reflecting the significant wealth added to investors’ portfolios.

Similarly, the All-Share Index advanced by 2,884.81 points, or 1.29 per cent, to close at 225,722.49, up from 222,837.68 on Thursday.

The rally was largely driven by price appreciation in medium- and large-cap stocks, including Academy Press, UPDC, Haldane McCall, Zichis Agro Allied Industries, and Wema Bank, alongside gains in several other equities.

Market breadth remained positive, with 43 gainers against 26 losers, indicating widespread buying activity across the market.

On the gainers’ chart, Academy Press and UPDC recorded the highest increase, each gaining 10 per cent to close at N7.70 and N4.40 per share respectively. Haldane McCall rose by 9.97 per cent to N3.97, while Zichis Agro Allied Industries and Wema Bank appreciated by 9.94 per cent and 9.84 per cent respectively.

On the downside, Meyer topped the losers’ table, declining by 9.92 per cent to N16.80 per share. Trans-Nationwide Express followed with a 9.30 per cent drop to N7.90, while C&I Leasing, Omatek Ventures, and E-Tranzact also posted losses.

Trading activity showed mixed performance, with total volume declining by six per cent, while the number of deals rose by four per cent and the value of transactions increased by 17 per cent.

A total of 627.6 million shares worth N44.5 billion were traded in 55,232 deals, compared to 667.9 million shares valued at N38.12 billion exchanged in 53,062 transactions in the previous session.

Access Corporation emerged as the most traded stock by volume, accounting for 75.62 million shares or 12.05 per cent of total turnover.

In terms of value, MTN Nigeria led the chart with transactions worth N8.20 billion, representing 18.42 per cent of total traded value.