The Nigerian stock market recorded a landmark performance this past week, gaining a staggering ₦1.806 trillion in market capitalization, pushing the total value of listed equities to an unprecedented ₦74.5 trillion. This remarkable growth came despite initial concerns triggered by new regulatory directives from the Central Bank of Nigeria (CBN) restricting dividend payouts and offshore investments by banks.
Investor confidence appeared to rebound swiftly, with traders redirecting their focus towards high-performing stocks across the banking, oil and gas, and consumer goods sectors. The positive momentum led to an overall bullish sentiment in the market, supported by impressive earnings reports and renewed interest in fundamentally strong companies.
Trading activity also surged, with the volume of shares traded increasing by over 65 percent, totaling about 3.37 billion units. Similarly, the value of traded equities more than doubled, reaching ₦108.72 billion. This spike in activity occurred across 95,625 executed deals, marking a significant 48 percent increase from the previous week.
Sectoral indices reflected the widespread optimism. The oil and gas index gained 5.27 percent, driven by increased demand for stocks like Seplat, MRS Oil, and Total. Agricultural and consumer goods stocks also contributed significantly to the market’s overall uplift.
Despite regulatory disruptions earlier in the week, the market’s year-to-date return now stands at 14.8 percent, underscoring its resilience and growing attractiveness to both domestic and foreign investors. The week’s rally has been described by analysts as a strong signal of market stability and potential for sustained growth in the months ahead.
