Nigerian stocks surge as NGX gains N578bn in shortened trading week
Equities on the Nigerian Exchange saw strong gains in a holiday-shortened week, with market capitalisation rising by N578bn. Investor confidence remained high, with notable advances in banking, consumer goods, and premium stocks. Trading activity was robust, marked by a significant increase in traded volume and turnover. Several stocks posted impressive gains, while a few others declined.
TLDR
- Market capitalisation on the Nigerian Exchange rose by N578bn, closing at N97.8tn after a shortened week.
- Trading volume increased by 50%, with 677.43 million shares exchanged in 27,576 deals, though the number of deals dropped by 17%.
- Aluminium Extrusion Industries led gainers, rising 9.96% to N14.90 per share; Royal Exchange topped losers, falling 7.22% to N1.80.
- VFD Group was the most actively traded stock by volume, while Guaranty Trust Holding Company led in value traded at N5.59bn.
- The main index climbed by 895.04 points to 153,354.11, reflecting a one-week gain of 2.61% and a year-to-date return of 48.99%.
