Nigeria’s equities market gained ₦1.47 trillion in market value on Friday, October 23, as listed shares rallied to close the trading week higher for the session.
Data reported by “Nairametrics“, citing figures from the Nigerian Exchange (NGX), showed that total market capitalisation rose to approximately ₦160.52 trillion from about ₦159.05 trillion at the previous session’s close.
The increase represented a 0.92 per cent rise in the market’s total value for the day.
All-Share Index rises
The NGX All-Share Index, which tracks the performance of listed equities, gained 2,265.33 points to close at 247,222.27 points, also up 0.92 per cent.
Trading activity increased during the session, with approximately 611.66 million shares exchanged across 33,540 deals. The trading volume was higher than the roughly 360.71 million shares recorded in the preceding session.
The market’s advance pushed its total capitalisation above ₦160 trillion, extending a rally in which selected large-cap stocks helped lift the main indices.
Cement and banking stocks support gains
Dangote Cement and First Holdco were among the session’s strongest performers, with both stocks gaining 10 per cent to close at ₦1,111 and ₦144.10 per share, respectively.
Fidelity Bank also advanced by 9.09 per cent to ₦24 per share, contributing to gains among banking stocks.
However, the session was not positive across every sector. Aradel Holdings fell by 6.33 per cent, while the Oil and Gas Index declined, highlighting the uneven performance of shares despite the broader market rally.
A strong session, but not the whole week
Although the market gained ₦1.47 trillion on Friday, that single-day increase should not be mistaken for a gain of the same size across the entire week.
The All-Share Index had finished the five-day trading period down 0.13 per cent, according to the figures reported by Nairametrics. This suggests Friday’s rebound did not fully erase earlier losses.
Market capitalisation reflects the combined market value of listed shares; it is not the same as cash flowing into investors’ accounts. The latest figures show a strong trading session, but the market’s direction will depend on subsequent trading and investor activity.
