The Nigerian stock market continued its bullish trend on Friday, delivering a substantial gain of N384 billion. Market capitalisation rose by 0.42 per cent, increasing from N90.751 trillion to N91.135 trillion. The All‑Share Index also climbed, gaining 604.58 points (0.42 per cent) to close at 143,584.04, up from 142,979.46 the previous day.
Market breadth was positive, with 39 stocks posting gains against 25 that recorded losses. UAC of Nigeria led the gainers, rising 10 per cent to N73.70, while Julius Berger topped the losers’ list, falling 9.96 per cent to N122.90.
Trading activity declined compared with Thursday. On Friday, 544.7 million shares worth N19.63 billion were exchanged in 27,065 transactions, versus 6.23 billion shares valued at N54.5 billion across 32,682 transactions on Thursday. United Bank for Africa dominated the activity chart, with 80.10 million shares worth N3.44 billion changing hands.
The market’s positive performance on Friday extends the recent uptrend, reflecting strong investor confidence. Although overall trading volume fell, the value of trades remains significant, indicating a robust market. This resilience is occurring against a backdrop of a Nigerian economy that is showing signs of strength despite global challenges. The ability of the stock market to attract investment and support growth is vital for the country’s economic development, and the recent gains will be closely monitored by investors, policymakers, and other stakeholders.
As the market evolves, the next trading sessions will be crucial in determining whether the current bullish trend can be sustained or if a shift in direction emerges.
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