Stock Market Gains N8.14trn on Buy Interest in MTN Nigeria, Dangote Cement
Naija News • Feb 23
**Nigeria's Stock Market Soars to N125.164 Trillion as Investors Flock to MTN, Dangote Cement**
Nigeria's domestic stock market has continued its upward trend, recording a staggering N8.14 trillion gain in its week-on-week performance. The surge in market capitalisation can be attributed to the strong buying interest in MTN Nigeria Communications Plc and Dangote Cement Plc, among other stocks.
Analysts have noted that investors are positioning themselves ahead of the December 2025 earnings releases, which is expected to drive the growth of some fundamental stocks. This has led to a remarkable 10% gain in MTN Nigeria and Dangote Cement, contributing significantly to the overall market capitalisation.
The Nigerian Exchange Limited (NGX) All-Share Index has advanced by 6.95% to 194,989.77 basis points, resulting in a 6.95% increase in market capitalisation to N125.164 trillion. This has also led to impressive month-to-date and year-to-date returns of +17.9% and +25.3%, respectively.
The sectoral performance has been broadly positive, with the Industrial Goods, Oil & Gas, Consumer Goods, Banking, and Insurance indices all recording gains. The market breadth remains firmly positive, with 71 stocks recording gains against 41 decliners, indicating widespread buying momentum across counters.
Some notable gainers include Zichis Agro Allied Industries, Japaul Gold & Ventures, and Infinity Trust Mortgage Bank, which recorded gains of 60.74%, 60.16%, and 59.09%, respectively. On the other hand, R.T Briscoe, MeCure Industries, and Tripple Gee and Company led the decliners table, recording losses of 20.78%, 18.99%, and 18.80%, respectively.
In terms of trading activity, the Financial Services Industry led the activity chart, with a total of 5.625 billion shares valued at N113.599 billion traded in 129,729 deals. The Services Industry and Oil and Gas Industry followed closely, with 493.131 million shares and 425.657 million shares traded, respectively.
As the market remains broadly positive, analysts have predicted that investor confidence and trading activity will continue to drive the market forward. However, intermittent profit-taking is expected to occur, which may lead to some volatility in the market. Nonetheless, the Nigerian stock market appears