The Nigerian equities market maintained its upward momentum on Friday, recording a N1.23 trillion increase in market capitalisation, driven largely by strong investor demand for industrial and insurance stocks.
At the close of trading, total market value rose from N123.934 trillion to N125.164 trillion, representing a 0.99 per cent gain. The All-Share Index also advanced by 1,916.20 points, or 0.99 per cent, to settle at 194,989.77, up from 193,073.57 in the previous session.
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Market analysts attributed the rally to sustained buying interest and bargain hunting in medium and large-capitalisation stocks across key sectors, supported by renewed investor confidence.
Industrial and insurance stocks led sectoral performance, posting gains of 2.28 per cent and 2.52 per cent respectively amid persistent demand. As a result, the market’s year-to-date return climbed further to 25.30 per cent.
Market breadth closed positive, with 53 gainers against 23 losers. Fidson Healthcare, Jaiz Bank and NPF Microfinance Bank topped the gainers’ chart with 10 per cent increases each, while Deap Capital Management and Custodian Investment also recorded notable gains.
On the losers’ table, Secure Electronic Technology led with a 10 per cent decline, followed by Sovereign Trust Insurance and Ellah Lakes.
Trading activity showed mixed performance, with 820.5 million shares valued at N28.3 billion exchanged in 63,507 deals. This reflected a 6.13 per cent drop in volume and a 26 per cent decline in value, but a three per cent increase in the number of transactions compared with the previous session.
Mutual Benefits recorded the highest trading volume, accounting for 9.63 per cent of total shares traded, while Zenith Bank led in value with transactions worth N3.79 billion, representing 13.37 per cent of the day’s turnover.
The sustained rally underscores growing investor confidence in the Nigerian stock market, particularly in defensive sectors such as industrial and insurance.
