14 Straight Sessions of Gains — and Counting
Nigeria’s stock market is on a run that is hard to ignore. The Nigerian Exchange (NGX) closed Friday with its 14th consecutive session of gains, adding ₦1.857 trillion in a single day to push total market capitalisation to ₦145.334 trillion. The All-Share Index gained 2,884.81 points, settling at 225,722.49 — a 1.29 percent rise that kept the market’s year-to-date performance firmly in the green.
Zoom out and the picture is even more striking: NGX has accumulated ₦16.13 trillion in market value in just 24 trading days this month, defying a global environment marked by geopolitical tension, oil price volatility, and uncertainty around Nigeria’s own fiscal trajectory.
Who Is Driving the Rally
Friday’s session saw 43 stocks gain against 26 that fell — a healthy breadth. Academy Press and UPDC led the gainers, both rising 10 percent to close at ₦7.70 and ₦4.40 per share respectively. Haldane McCall, Zichis Agro Allied Industries and Wema Bank also featured among the day’s advancers.
On the value side, MTN Nigeria dominated, recording ₦8.20 billion in transactions — 18.42 percent of the day’s total traded value. Access Corporation handled the highest volume at 75.62 million units. Total trades reached 627.6 million shares worth ₦44.5 billion across 55,232 deals.
What Is Fuelling Investor Confidence
Market analysts point to a combination of factors: improving macroeconomic data, the CBN’s tightening stance which has stabilised the naira somewhat, positive corporate earnings announcements from major lenders, and growing optimism around Nigeria’s reform programme. Investors appear willing to look past the headline noise — the rising public debt, the ongoing insecurity, and political turbulence — and bet on earnings growth in the medium term.
Whether the rally can sustain itself as Q2 corporate results begin to arrive will be the real test.
Sources: Daily Post, ThisDay, Arise TV
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