Nigerian equities market capitalization increases by N1.66tn

The Nigerian equities market maintained its bullish trend as investor interest in fundamentally strong stocks led to an increase in key performance indicators. The market capitalization rose from N134.772tn to N136.435tn, and the All-Share Index climbed from 209,317.41 points to 211,901.02 points. Market breadth was positive, with 45 gainers and 21 losers. Guinea Insurance and Trans-Nationwide Express both appreciated by 10.00 percent, while Aradel gained 9.99 percent, Ecobank Transnational Incorporated rose by 9.97 percent, and Daar Communications increased by 9.93 percent. Ikeja Hotel led the decliners with a 9.73 percent drop, followed by Wapic Insurance, CAP Plc, International Energy Insurance, and McNichols. Several blue-chip stocks, including Dangote Cement and Lafarge Africa, closed flat. Investor sentiment remained bullish, driven by accumulation in mid-cap and financial stocks ahead of earnings releases and dividend expectations. Analysts anticipate the positive momentum to continue, supported by bargain hunting and portfolio rebalancing, though intermittent profit-taking may occur.