As renewed investor demand increased market capitalization by N542 billion in a single session, the Nigerian stock market maintained its bullish momentum at the beginning of the week, continuing its year-end rise.
With year-to-date (YTD) returns reaching 50% for the first time since late October, the advance, which was mostly fueled by positioning ahead of the new year, returned the benchmark index to a symbolic milestone.
The All-Share Index (ASI) closed at 154,389.53 points, up 849.70 points, or 0.55 percent. Concurrently, the market’s overall capitalization increased to N98.432 trillion, highlighting the extent of the resurgent confidence that permeates the market despite modest trading volumes.
Strong price increases in a variety of large- and mid-cap companies, especially in the consumer goods and financial services industries, served as the rally’s anchor.
Guinness Nigeria, BUA Foods, UACN, Ecobank Transnational Incorporated (ETI), and Eunisell Interlinked were notable drivers of the day’s gain. This indicates a clear preference for fundamentally strong names as investors adjust portfolios ahead of 2026.
According to market watchers, the most recent surge supports the story of a robust Nigerian equities market, which is bolstered by strengthening macroeconomic indicators and selective bargain hunting after periods of profit-taking earlier in the quarter.
The market is expected to remain cautiously bullish in the coming days, according to United Capital Plc. The investment firm stated in a note that “the Nigerian equity market is likely to trade cautiously positively this week, supported by steady GDP growth, strong external reserves, and broad-based sector gains.”
“While profit-taking may restrict sharp rallies, investors will concentrate on fundamentally strong stocks in consumer goods, banking, and industrials.”
Broad-Based Gains Improve Market Sentiment
Gainers just outnumbered losers as the market’s breadth reflected improving optimism. In contrast to 37 decliners, 41 equities closed in positive territory, indicating widespread participation rather than a rise spearheaded by a small number of heavyweights.
The top two gainers were Austin Laz & Company and Ecobank Transnational Incorporated, both of which closed at N3.52 and N41.80 after rising by the maximum 10%. Eunisell Interlinked followed closely, closing at N96.70 a share after rising 9.95 percent as fresh interest in mid-cap names kept picking up steam.
