The Nigerian stock market staged a strong recovery last week, with investors gaining N9.34 trillion as trading closed on a bullish note.
Data from the Nigerian Exchange Limited (NGX) shows that market capitalization rose to N156.44 trillion, up from N147.10 trillion recorded the previous week. This follows a loss of over N1.8 trillion the week before, triggered by widespread selloffs that began in late June 2026.
The NGX All-Share Index (ASI) also climbed sharply, advancing 6.4% to close at 243,798.76 points from 229,240.34 points.
The rally was driven by strong performances in major stocks, including Dangote Cement, which gained 17.51%, Airtel Africa (10%), MTN Nigeria (8%), and Aradel Holdings (19.67%). As a result, the market’s year-to-date return improved to 56.8%.
Market analysts said investor sentiment remained positive throughout most of the week, with funds flowing into fundamentally strong large- and mid-cap stocks. The sustained interest in blue-chip equities reflects growing confidence in the Nigerian market despite ongoing global economic uncertainties.
Trading activity remained robust, with a total of 3.65 billion shares worth N220.57 billion exchanged in 251,861 deals. This compares to 3.82 billion shares valued at N154.39 billion traded in 258,567 deals the previous week.
The financial services sector led market activity, accounting for 79.48% of total trading volume and 66.81% of total value, with 2.90 billion shares worth N147.36 billion traded in 106,603 deals.
