Nigerian Stock Market Hits New Milestone
The Nigerian equity market reached a historic milestone on Monday, May 11, as the All-Share Index (ASI) crossed the 250,000-point mark for the first time. Investors gained over N3 trillion in a single trading session, driven by sustained buying interest in key stocks. The ASI closed at 250,485.54 points, representing a gain of 2.33% compared to the previous session. This rally pushed the market's year-to-date return from 57.30% to 60.97%, signaling strong investor confidence in the Nigerian economy.
Market Capitalization and Trading Activity
The equities market capitalization surged from N157.09 trillion to N160.26 trillion, while the total market capitalization stood at N215.89 trillion. Trading activity witnessed a substantial increase, with total volume traded rising by 30.82% to 1.51 billion shares. The value of transactions increased by 17.23% to N70.10 billion, executed across 95,093 deals. The bullish momentum was fueled by robust demand for stocks such as RT Briscoe, FTN Cocoa Processors, and Livestock Feeds, along with sustained activity in banking and telecommunication counters.
Investor Sentiment and Market Breadth
Investor sentiment improved significantly during the session, with 56 stocks recording gains while only 21 stocks declined. The most actively traded stocks by value included MTN Nigeria, First HoldCo, Dangote Cement, Zenith Bank, and GTCO, which accounted for a substantial portion of the total market turnover. The equity market turnover for the year-to-date improved to N3.37 trillion, with the average daily value transacted rising to N38.74 billion.
Top Gainers and Losers
Among the top gainers, Livestock Feeds rose by 10.00% from N8.00 to N8.80. IntEnEgIns advanced by 10.00% from N2.60 to N2.86. RT Briscoe increased by 10.00% from N15.00 to N16.50. FTN Cocoa climbed by 10.00% from N8.30 to N9.13. UHOMREIT appreciated by 10.00% from N70.00 to N77.00. On the losing side, Prestige Assurance fell by 10.00% from N1.60 to N1.44. UPL declined by 9.09% from N4.40 to N4.00. Tantalizers dropped by 7.69% from N4.55 to N4.20. NPF Microfinance Bank decreased by 6.25% from N6.40 to N6.00. Mutual Benefits Assurance slipped by 5.72% from N4.37 to N4.12.
Most Active Stocks by Volume
In terms of trading volume, Veritas Kapital led with 194.55 million shares valued at N299.07 million. Access Holdings exchanged 172.08 million shares worth N4.18 billion. First HoldCo recorded 131.97 million shares valued at N9.80 billion. FCMB traded 123.89 million shares worth N1.42 billion. Champion Breweries posted 82.99 million shares valued at N1.25 billion.
Dangote Refinery IPO Plans
In related news, the Dangote Group has unveiled plans to sell a 10% stake in its $20 billion refinery through a Pan-African Initial Public Offering (IPO) expected in 2026. The proposed listing is designed to broaden investor participation across the continent while strengthening Africa's capital markets. Dangote noted that the offering would also support long-term funding needs for the group's expanding industrial footprint.
