The Nigerian stock market began the new year on a positive note, with investors posting a gain of N561 billion on Friday. This bullish trend was driven by strong performances from 52 stocks, including FTN Cocoa Processors, ABC Transport, Mutual Benefits Assurance, and Deap Capital Management. Market capitalization rose by 0.57 percent to N99.937 trillion, up from N99.376 trillion at the start of the session, while the All‑Share Index also appreciated by 0.57 percent, gaining 879.33 points to close at 156,492.36, compared with 155,613.03 in the previous session on Wednesday.
The market was closed on Thursday due to a public holiday declared by the Federal Government to mark the New Year. Trading on Friday showed a broad-based advance, with 53 stocks rising and 10 falling. FTN Cocoa Processors, ABC Transport, Mutual Benefits Assurance, and Deap Capital Management were among the top gainers, each climbing 10 percent. Aluminium Extrusion Industries also posted a notable rise, up 9.93 percent to N23.80 per share. Conversely, Abbey Mortgage Bank led the decliners with a 6.25 percent drop, followed by First City Monument Bank, which fell 4.56 percent. Seplat Energy and Guinea Insurance declined 3.43 percent and 2.26 percent, respectively.
In terms of market activity, the number of deals increased, but both trading volume and value fell compared with the previous session. A total of 439.9 million shares worth N24.9 billion were traded in 40,245 transactions. Chams led the activity chart by volume, handling 120.3 million shares valued at N455.09 million. The positive start to the year is a welcome development for investors, who will be closely watching the market’s performance in the coming weeks. As one of Africa’s largest stock exchanges, the Nigerian market provides a platform for companies to raise capital and for investors to buy and sell securities, and it is poised to play an increasingly important role in the country’s economic development.
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