The Nigerian Stock Exchange saw a significant surge in value today, with the total market capitalisation rising by 10.4%. The rally was driven by heavy activity in key sectors as investors bought and sold shares at a rapid pace.
Trading volume also saw a major boost, with approximately 3.19 billion shares exchanged during the session. This heightened activity reflects renewed investor confidence, especially in consumer goods, banking, and energy stocks.
Market analysts attribute the gains to positive macroeconomic signals, including recent monetary policy developments, improved fiscal projections, and optimism about corporate earnings ahead of the new financial reporting period. Foreign and local investors alike were active, pushing demand for blue-chip securities.
Despite lingering concerns about inflation and exchange rate volatility, brokers say that today’s strong performance could be an indicator of sustained bullish sentiment if economic reforms continue and regulatory stability is maintained.