Nigerian Stock Market extends gains continues as capitalisation rises to N161.839 trillion, supported by MTN, BUA Cement and other key stocks despite weak trading activity

The stock market extended its mild bullish run midweek, with overall market capitalisation rising to a new peak despite subdued trading activity and cautious investor sentiment.

Also read: PenCom Boosts Pension Equity Limits, Promoting Market Growth

Nigerian stock market bullish run capitalisation rise was reflected in a N64 billion increase, pushing market value to N161.839 trillion, while the All-Share Index (ASI) gained 96.52 points to close at 252,508.19 points, representing a 0.04 per cent rise.

The slight upward movement was driven by price gains in major large- and medium-cap stocks, including MTN Nigeria Communications, UAC of Nigeria, Berger Paints Nigeria, Fidson Healthcare, and BUA Cement.

However, overall trading activity weakened as volume declined by 6.69 per cent to 1.683 million units, valued at N109.439 billion across 76,557 deals.

Market sentiment remained mildly positive, with 38 gainers compared to 29 decliners, indicating a fragile but slightly optimistic trading environment.

Analysis from Cowry Assets Management Limited suggested that the market may face mild headwinds in the short term due to weak participation and uneven breadth.

On the gainers’ table, Daar Communications, Fidson Healthcare, Livestock Feeds, CWG Plc, Berger Paints, FTN Cocoa Processors, and International Energy Insurance all recorded strong gains of up to 10 per cent.

However, profit-taking weighed on some stocks, including NCR Nigeria, Zichis Agro Allied Industries, First Holdco, Neimeth International Pharmaceuticals, and Eterna Plc.

Banking stocks dominated trading activity, with First Holdco leading the chart, followed by United Bank for Africa, Access Holdings, Fidelity Bank, and Wema Bank.

Despite the gains in the index, analysts noted that the market remains vulnerable to short-term volatility due to inconsistent liquidity and cautious investor positioning.

Also read: NGX Awards 2025 Honour Top Performers in Nigeria’s Capital Market

Overall, the session reflected a balance between modest optimism and underlying caution, as heavyweight stocks supported market growth amid weak broader participation.