Nigeria’s equities market extended its winning streak on Thursday, with the benchmark index and total market capitalisation reaching fresh record highs, driven largely by gains in oil and gas stocks and continued momentum following the country’s return to the FTSE Russell Frontier Market Index….
Nigeria’s equities market extended its winning streak on Thursday, with the benchmark index and total market capitalisation reaching fresh record highs, driven largely by gains in oil and gas stocks and continued momentum following the country’s return to the FTSE Russell Frontier Market Index.
The NGX All-Share Index rose 0.38% to close at 252,150.01 points, compared with 251,191.02 points recorded in the previous session.
Total market capitalisation also climbed to an unprecedented N163.679 trillion, reflecting continued strength across the market.
The Oil and Gas Index led sectoral gains, advancing 3.95% to 6,251.99 points.
Trading activity remained robust, with investors exchanging 978.214 million shares in 48,459 deals during the session.
The financial services sector accounted for the largest share of trading activity, recording 507.001 million shares across 11,499 deals, while banking stocks alone accounted for 371.402 million shares.
The market’s performance also reflected mixed movements among the 31 Nigerian companies selected for the FTSE Russell Frontier Index Series.
While a handful of the constituents recorded gains, several large-cap stocks remained unchanged, limiting the breadth of the advance despite the market’s new record close.
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