The Nigerian equity market saw a significant boost, gaining N607 billion in market capitalization, driven by investor interest in major stocks like Access Corporation and MTN Nigeria. The All-Share Index rose by 1.06 percent to 97,456.62, while market capitalization increased by 1.10 percent, reaching N56 trillion.
MTN Nigeria led the charge with a notable 7.37 percent stock increase, while Access Corporation’s stock appreciated by 2.39 percent, reflecting strong investor confidence. Sector-wise, the banking sector posted a strong 5.12 percent gain, while the oil & gas sector rose by 2 percent. The insurance and consumer goods sectors also saw positive growth of 1.59 percent and 1.47 percent, respectively.
Trading activity was dominated by the financial services industry, contributing 66.05 percent of the total equity turnover volume, with 1.71 billion shares traded, valued at N26.99 billion. The oil & gas sector followed, with 332.83 million shares worth N12 billion, and the services sector ranked third.
Additionally, 52 equities appreciated during the week, a rise from 36 in the previous week, while 31 equities saw price declines. The Federal Government’s savings bonds were also listed on the Nigerian Exchange on September 12, further expanding investment opportunities.
The market’s broad gains highlight resilience and optimism, particularly in large-cap stocks, as trading volumes and values surged compared to the prior week.
