The Nigerian stock market experienced a significant surge on Friday, with investors trading 1.826 billion shares valued at N20.03 billion across 20,645 transactions. This represents a substantial increase from the previous day’s activity, which saw 324.6 million shares worth N13.05 billion exchanged in 18,328 deals. The upswing in market activity is attributed to renewed investor confidence, with the market demonstrating broad strength and a sharp rise in volume and value.

Access Corporation led the activity chart, with 103.29 million shares traded, valued at N2.17 billion. The market’s bullish trend continued, resulting in investors gaining N179 billion in value by the close of trading. Market capitalization increased by N179 billion, or 0.20 percent, to N91.286 trillion, up from the previous day’s N91.107 trillion. The All-Share Index also climbed 281.30 points, or 0.20 percent, to finish at 143,520.53.

The uptick in the market is largely attributed to interest in stocks such as Ikeja Hotel, NGX Group, Academy Press, Omatek, and Cadbury, among 28 other advancing stocks. The year-to-date return has increased to 39.44 percent, with market breadth closing positive, featuring 33 gainers and 21 losers. Ikeja Hotel led the gainers, with a 10 percent increase to close at N30.25, followed by NGX Group, which rose 9.98 percent to finish at N56.20.

On the other hand, Abbey Mortgage Bank led the losers, falling 10 percent to close at N5.85, while Meyer shed 9.97 percent to finish at N13.10. The market’s positive performance is a reflection of the growing confidence of investors in the Nigerian economy. As the market continues to demonstrate resilience, it is likely that investor interest will remain strong, driving further growth and development in the sector. The Nigerian stock market’s year-to-date return of 39.44 percent is a testament to its potential for growth and investment opportunities.