Lagos – Nigeria’s equity market continued its upward trajectory on Monday, pushing total market capitalisation past the N160 trillion mark. The All‑Share Index closed at 250,485.54 points, up 5,709.71 points on the day and extending the year‑to‑date gain for the index.
Capitalisation rose 2.01 percent from N157.094 trillion on Friday to N160.256 trillion, reflecting broad‑based buying across the exchange. Trading activity was robust, with 1.49 billion shares changing hands in 94,834 transactions, amounting to N68.45 billion in value.
Investor sentiment remained optimistic, as 59 stocks recorded gains against 21 that fell. The most active buyers included CHAMS, FTN Cocoa Processors, International Energy Insurance, Livestock Feeds and RT Briscoe, each posting roughly 10 percent increases. On the downside, Prestige Insurance, Sovereign Trust Insurance, University Press, Ellah Lakes and Tantalizers posted the largest losses.
Volume leadership belonged to Veritas Kapital, which traded 194.63 million shares, representing 13.10 percent of total volume. In terms of trade value, MTN Nigeria was the standout, with transactions worth N12.39 billion during the session.
David Adonri, vice‑president of Highcap Securities, attributed the rally to renewed confidence, improved macro‑economic conditions and stronger liquidity. “Many stocks closed on full bid, showing aggressive buying interest across the market,” he said. Adonri noted that past negativity toward MTN, driven by xenophobic sentiment, has faded as investors recognise the company’s predominantly Nigerian ownership and its role in the local market.
He added that higher crude oil prices, a more reliable energy supply and a stable operating environment are underpinning market sentiment. “Broad money supply has expanded significantly, and that liquidity is finding its way into equities,” Adonri explained.
The continued ascent of the All‑Share Index and the surge in market capitalisation signal a resilient Nigerian stock market that is attracting both domestic and foreign capital. Market participants will be watching upcoming macro‑economic data and corporate earnings for cues on whether the rally can be sustained in the months ahead.
