The Nigerian equities market opened the month of October on a positive note as market capitalisation climbed above the ₦90 trillion threshold, closing at ₦90.8 trillion.

The rally was underpinned by renewed buying interest in mid- and large-cap stocks, which lifted the All-Share Index (ASI) by about 0.17% in the opening session. This momentum added more than ₦160 billion to investors’ wealth compared to the previous trading day, when capitalisation stood at ₦89.97 trillion.

Analysts noted that stocks such as Thomas Wyatt, Eterna Plc, and LivingTrust Mortgage Bank recorded strong gains, helping to sustain the market’s bullish start.

Despite the upbeat performance, market breadth remained mixed as more equities declined than advanced, suggesting that investors’ interest was focused on select counters rather than the broader market.

Market watchers say the rally reflects improved investor sentiment amid expectations of third-quarter earnings reports, while noting that sustained momentum will depend on macroeconomic conditions and corporate performance in the coming weeks.