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Nigerian Stock Market Surges by N987 Billion, Driven by Investor Interest

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Stock Market,Nigeria,Investment

The Nigerian stock market experienced a significant gain of N987 billion, or 0.99 percent, in a single day, fueled by investor appetite for advanced equities like MTN Nigeria, BUA Foods, and FBN Holdings. This surge resulted in the market capitalization reaching N62.899 trillion, with the All-Share Index advancing by 0.99 percent to settle at 103,149.35. The Year-To-Date return also climbed to 37.95 percent.

The Nigerian stock market, on Monday, recorded a significant gain of N987 billion, or 0.99 percent, in a single day. This comes as investors’ interest in MTN Nigeria, BUA Foods, FBN Holdings, and other advanced equities were the primary drivers of the overall market’s upward performance. Accordingly, the market capitalisation added N987 billion, or 0.99 percent, to an opening of N61.912 trillion on Monday, to close at N62.899 trillion. The All-Share Index, which opened at 102,133.

Lasaco Assurance gained 9.96 percent to close at N3.09, while Living Trust rose by 9.92 percent to close at N3.99 per share. Meanwhile, on the flip side, PZ led the losers’ table by 10 percent to close at N2.90, Vitafoam trailed by 9.62 percent to close at N21.60, while NGX Group dropped 9.17 percent to close at N27.25 per share. Also, Ikeja Hotel shed 7.41 percent to close at N11.25, while Eterna declined by 5.26 percent to close at N27 per share.

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