Nigerian equities market posts gains despite widespread declines
The Nigerian equities market ended higher, with investors seeing a gain of N192bn. Buying interest in select banking, energy, and consumer goods stocks outweighed losses in other segments. The All-Share Index and market capitalisation both increased, even as more stocks declined than advanced. Notably, mid-cap stocks drove the market’s modest rebound.
TLDR
- Investors gained N192bn as the Nigerian Exchange Limited All-Share Index rose by 0.12 per cent.
- Market capitalisation increased from N158.086tn to N158.278tn at the close.
- Gains in stocks like FCMB Group, Eterna, and AVA Capital Partners helped offset broader losses.
- Eterna led gainers with a 10 per cent rise, while FTN Cocoa Processors led decliners, dropping 10 per cent.
- Major stocks such as MTN Nigeria Communications and Dangote Cement closed flat as focus remained on mid-cap opportunities.
