Nigeria's Stock Market Up N1.857T to N145.334T

Nigeria's stock market closed the week on a strong upward note, with the Nigerian Exchange Limited (NGX) recording a N1.857 trillion increase in market capitalization, reaching N145.334 trillion as investor confidence propelled prices higher across major sectors. The All-Share Index rose 1.29 percent, or 2,884.81 points, to 225,722.49, extending a rally that has now lasted 14 consecutive trading sessions.

The gains were fueled by broad-based buying in medium and large-cap stocks, including Academy Press and UPDC, each up 10 percent to close at N7.70 and N4.40 per share, respectively. Other notable performers included Haldane McCall, up 9.97 percent to N3.97, and Wema Bank, which advanced 9.84 percent. Market breadth stayed positive, with 43 gainers outpacing 26 losers. On the downside, Meyer fell 9.92 percent to N16.80, while TransNationwide Express dropped 9.30 percent to N7.90. Trading volume dipped 6 percent to 627.6 million shares, but the value of transactions climbed 17 percent to N44.5 billion across 55,232 deals. Access Corporation led in volume with 75.62 million shares, while MTN Nigeria topped value traded at N8.20 billion.

This performance aligns with a broader...