Nigerian stock market gains N5.6tn as market capitalisation hits N152tn

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By Boluwatife Oshadiya

Key Points

• Nigerian equities market gains N5.554 trillion in a single trading session
• Market capitalisation rises to N152.728 trillion
• All-Share Index surges by 3.77% to 237,205.59 points
• Airtel Africa and other large-cap stocks drive bullish momentum

Main Story

The Nigerian stock market recorded a strong bullish performance on Wednesday, with investors gaining N5.554 trillion at the close of trading, as market capitalisation climbed to N152.728 trillion.

This marks a 3.77 per cent increase from the previous session’s N147.174 trillion, reflecting renewed investor confidence and heightened activity in the equities market.

Similarly, the All-Share Index (ASI) advanced by 8,625.79 points to settle at 237,205.59, representing a 3.77 per cent gain. The market’s year-to-date return also rose significantly to 52.43 per cent.

The rally was largely driven by increased demand for high- and mid-cap stocks, with Airtel Africa, UAC of Nigeria, Chemical and Allied Products Plc, and Jaiz Bank among the top performers.

Airtel Africa, UAC of Nigeria, CAP, and Zichis Agro Allied Industries recorded the maximum daily gain of 10 per cent each, while Jaiz Bank followed closely with a 9.99 per cent increase.

However, the session also saw some declines, with Cadbury Nigeria and John Holt Plc leading the losers’ chart after shedding 10 per cent each.

Trading activity also improved significantly, with a total of 1.33 billion shares valued at N69.09 billion exchanged across 83,445 deals. This represents an increase from Tuesday’s 907.9 million shares worth N68.24 billion traded in 72,886 transactions.

Access Holdings Plc emerged as the most traded stock by volume and value, accounting for over 21 per cent of total volume and more than 10 per cent of total value traded during the session.

What’s Being Said

Commenting on the market performance, Vice President of Highcap Securities, David Adonri, said the rally was largely influenced by movements in highly capitalised stocks.

“Today, Airtel Africa rose by the maximum 10 per cent, and that gain alone was substantial enough to drive the market upward,” he said.

Adonri noted that other large-cap stocks also recorded gains, while previously declining banking stocks rebounded.

“Stocks like GTCO, Zenith Bank, WAPCO and UBA all posted recoveries,” he added.

What’s Next

Market analysts expect continued volatility driven by profit-taking activities and macroeconomic indicators, including inflation trends, interest rates, and foreign exchange stability.

Investor sentiment is likely to remain sensitive to corporate earnings releases and policy signals from economic managers.