Nigeria’s equities market extended its bullish run on Friday, with market capitalisation surpassing N145 trillion following sustained investor demand across key stocks.
Data from the Nigerian Exchange Limited showed the market gained 1.30 per cent at the close of trading, driven by strong buying interest that lifted the All-Share Index by 2,884.81 points to 225,722.49.
Market capitalisation rose by N1.86 trillion to N145.34 trillion, up from N143.48 trillion recorded in the previous session, signalling renewed investor confidence after a mixed start to the week.
Trading sentiment turned positive, with 43 gainers against 26 losers, marking the first bullish breadth recorded during the week.
Among the top performers, UPDC and Academy Press each surged by 10 per cent, while Haldane McCall, Zichis and Wema Bank also posted significant gains.
On the flip side, Meyer and Trans-Nationwide Express led the laggards, both declining by nearly 10 per cent, alongside losses recorded in C&I Leasing, Omatek and eTranzact.
Activity levels showed mixed trends, as total traded volume declined by over six per cent to 627.6 million shares, while the value of transactions rose by 16.8 per cent to N44.5 billion across 55,232 deals.
Key banking stocks dominated the trading floor, with Access Holdings emerging as the most active by volume, followed by UBA, Wema Bank and Zenith Bank.
Market analysts say the latest rally reflects sustained appetite for equities, supported by expectations of improved corporate earnings and ongoing portfolio repositioning by investors.
