Nigerian Stock Exchange Surges 50% YTD, Valuation Reaches N98.4 Trillion

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, extending its year-end surge.

With year-to-date (YTD) returns reaching 50% for the first time since late October, the benchmark index returned to a significant milestone as a result of the advance, which was mostly fueled by positioning ahead of the new year.

The All-Share Index (ASI) closed at 154,389.53 points, up 849.70 points, or 0.55 percent, at the end of trade. Concurrently, the market’s overall capitalization increased to N98.432 trillion, demonstrating the strength of the revitalized confidence that permeates the market despite modest trading volumes.

Strong price growth in a variety of large- and mid-cap equities, especially in the consumer goods and financial services industries, served as the rally’s main driver.

Guinness Nigeria, BUA Foods, UACN, Ecobank Transnational Incorporated (ETI), and Eunisell Interlinked were notable drivers of the day’s gain, indicating a definite preference for fundamentally sound firms as investors adjust portfolios ahead of 2026.

According to market observers, the most recent surge supports the story of a robust Nigerian equities market, which is bolstered by strengthening macroeconomic indicators and careful bargain hunting after periods of profit-taking earlier in the quarter.

United Capital Plc predicts that the market will remain cautiously optimistic in the coming days. The investment firm stated in a note that “the Nigerian equity market is likely to trade cautiously positive this week, supported by steady GDP growth, strong external reserves, and broad-based sector gains.”

“While profit-taking may limit sharp rallies, investors will focus on fundamentally strong stocks in consumer goods, banking, and industrials.”

Wide-ranging Gains Increase Market Sentiment

Gainers just outweighed losses, and the market’s breadth indicated improving mood. In contrast to 37 decliners, 41 equities closed in positive territory, indicating widespread participation as opposed to a rise spearheaded by a few heavyweights.

The top gainers were Austin Laz & Company and Ecobank Transnational Incorporated, which both closed at N3.52 and N41.80 after increasing by the maximum 10%. As fresh interest in mid-cap names continued to pick up steam, Eunisell Interlinked followed closely, gaining by 9.95 percent to close at N96.70 per share.