The Nigerian equities market extended its bullish run this week, posting a robust gain of 2.03% as investor confidence soared on the back of strong corporate earnings and improved market sentiment. The All-Share Index (ASI) climbed by 2,746.36 points to close at 137,912.87, while market capitalisation surged by ₦1.74 trillion to settle at an all-time high of ₦87.19 trillion.

The rally was driven by notable price appreciation in several large- and mid-cap stocks including MTN Nigeria, Berger Paints, Learn Africa, Thomas Wyatt, Halldane McCall, and Ellah Lakes.

Market breadth closed positive, with 51 stocks advancing against 25 decliners, reflecting broad investor participation and bullish sentiment across sectors.

Trading activity remained vibrant, with investors transacting over 940.8 million shares worth ₦30.63 billion in 28,358 deals. Top-traded equities by volume included Fidelity Bank, Royal Exchange, Jaiz Bank, Universal Insurance, and Access Holdings.

Market Snapshot

Indicator Value

All-Share Index (ASI) 137,912.87 (+2.03%)
Market Capitalisation ₦87.19 trillion
Gain in Capitalisation ₦1.74 trillion
Advancers vs Decliners 51 vs 25
Trade Volume 940.8 million shares
Trade Value ₦30.63 billion

Market analysts at Afrinvest Limited noted that the current momentum is likely to continue in the near term, buoyed by a favorable earnings season and sustained investor interest. However, they cautioned that external shocks or policy uncertainties could moderate the pace of gains.

As earnings season peaks and more blue-chip companies release their half-year results, market watchers anticipate increased volatility, but with a bullish bias.