AGS NEWS – The Nigerian equity market gained N607bn in market capitalisation last week, driven by strong buying interest in large-cap stocks like Access Corporation and MTN Nigeria.

The All-Share Index rose by 1.06% to close at 97,456.62, while market capitalisation increased by 1.10% to N56tn.

Most indices saw gains, except for the Growth Index, which dipped by 0.03%, and the Alternative Securities Market Index, which remained unchanged.

Access Corporation gained 2.39%, while MTN Nigeria rose by 7.37%, contributing to the overall positive trend.

Sector-wise, consumer goods rose by 1.47%, insurance by 1.59%, industrial by 0.17%, banking by 5.12%, and oil & gas by 2%.

The financial services industry led in activity, trading 1.71 billion shares valued at N26.99bn in 19,277 deals, while the oil and gas industry followed, with 332.83 million shares worth N12bn traded in 9,956 deals.

Jaiz Bank, Zenith Bank, and Japaul Gold & Ventures were the top three equities by volume, contributing 36.68% of total turnover.

Overall, 52 equities appreciated, while 31 declined, and 68 remained unchanged. Additionally, the Federal Government’s savings bonds were listed on the Nigerian Exchange on September 12.