The Nigerian equities market continued its bullish run on Monday, with investors recording a combined gain of N3.162 trillion as market capitalisation rose above N160 trillion.
Market capitalisation climbed 2.01 percent, increasing from N157.094 trillion on Friday to N160.256 trillion, reflecting sustained buying interest across the exchange.
The All Share Index also advanced by 5,709.71 points to close at 250,485.54, further boosting year-to-date returns.
Market sentiment remained positive, with 59 gainers compared to 21 losers. Key gainers included CHAMS, FTN Cocoa Processors, International Energy Insurance, Livestock Feeds, and RT Briscoe, each rising by 10 percent, while Prestige Insurance, Sovereign Trust Insurance, University Press, Ellah Lakes, and Tantalizers recorded losses.
Trading activity strengthened, with 1.49 billion shares worth N68.45 billion exchanged in 94,834 transactions. Veritas Kapital led by volume with 194.63 million shares, while MTN Nigeria dominated by value with N12.39 billion in trades.
Commenting on the market performance, Vice President of Highcap Securities, David Adonri, attributed the rally to renewed investor confidence, improved macroeconomic conditions, and increased liquidity.
He added that many stocks closed on full bid, reflecting strong buying pressure, while noting that investors now view MTN Nigeria as a fundamentally Nigerian stock with strong local ownership.
Adonri also pointed to supportive factors such as elevated crude oil prices, improved energy supply, stable conditions, and rising money supply, saying much of the liquidity is now flowing into equities.
