Nigeria’s Stock Market Gained N1.09 Trillion on Thursday to Force NSE to Halt Trading

The Nigerian Stock Exchange (NSE) gained N1.09 trillion on Thursday as local investors continue to dump huge money on Nigerian assets despite the weak economic fundamentals and falling demands.

In a shocking move, investors traded a record 1.193 billion shares worth N17.396 billion in 10,704 deals during the trading hours of Thursday. The highest in over five years.

The market capitalisation of listed equities rose by N1.09 trillion from N17.380 trillion on Wednesday to N18.468 trillion on Thursday. While the NSE All-Share Index gained 6.23 percent or 2,074.1 index points from 33,268.36 index points posted on Wednesday to settle at 35,342.46 index points on Thursday. Also, the highest single-day gain in over half a decade.

The unrestrained surged in the prices of listed equities triggered a circuit breaker after the Exchange gained over the 5 percent threshold for a single day by the NSE. The market was shut down for 30 minutes.

Zenith Bank led the most traded stock with 161.383 million shares valued at N4.463 billion. See the details below.

Stock Market’s Top Trades

Stock Market’s Top Gainers

Stock Market’s Top Losers