Nigerian Stock Market Expands By N849bn On Tier-1 Banks Rally
The Nigerian stock market expanded by more than N849 billion on Friday as investors’ attention shifted to tier-1 banks’ stocks, stockbrokers said. The Nigerian Exchange (NGX) All-Share Index (ASI) closed the. . .
The Nigerian stock market expanded by more than N849 billion on Friday as investors’ attention shifted to tier-1 banks’ stocks, stockbrokers said. The Nigerian Exchange (NGX) All-Share Index (ASI) closed the week on a positive note, with key market performance indicators appreciating by 0. 54%. The boost was primarily driven by investors’ sustained appetite for Banking stocks, with top performers including FIRSTHOLDCO, UBA, ZENITHBANK, ACCESSCORP, and GTCO. The market index added 1,316. 52 basis points in today’s trading session to close at 243,462,13. Also, the equities market capitalisation gained ₦849. 28 billion, closing at ₦157. 06 trillion. Total volume and the total value of all trades executed in the local bourse increased by +37. 60% and +22. 40%, respectively. In a note, Atlass Portfolio Limited told investors that approximately 685. 87 million units valued at ₦42,682. 57 million were transacted across 44,134 deals. FIRSTHOLDCO topped volume drivers, accounting for 32. 97% of all companies’ units traded in the market, followed by GUINEAINS (7. 79%), ZENITHBANK (6. 06%), ACCESSCORP (4. 25%), and UBA with 4. 02%. Also, FIRSTHOLDCO topped the value chart, accounting for 49. 24% of the total value of all transactions, making it the most actively traded on the exchange. Today, FIRSTHOLDCO topped the gainers chart, up by +9. 97%, trailed by HMCALL (+9. 94%), LIVINGTRUST (+9. 73%), WAPIC (+7. 44%), LASACO (+5. 26%), THOMASWY (+5. 10%), and twenty-seven others. A total of eighteen stocks depreciated. With a price depreciation of -9. 50%, REDSTAREX topped the worst performers’ chart, followed by OMATEK (-6. 08%), CILEASING (-5. 93%), JAIZBANK (-5. 03%), LIVESTOCK (-3. 89%), and ZICHIS (-2. 95%). Hence, market breadth closed on a positive note, with 33 gainers and 18 losers. Sectoral performance was positive today as three of the five major market sectors increased. The Banking sector led with +3. 13%, followed by the Insurance sector (+1. 08%), and the Consumer goods sector (+0. 21%). The Oil & Gas and Industrial goods sectors declined marginally by 0. 003% and 0. 002%, respectively. FirstHoldco Gains 26% on Strong Investor Sentiment ShiftJulius AlagbeJulius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting. He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa. Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions. He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape. His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses. Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa. Julius Alagbe is based in Lagos, Nigeria.