MTN Nigeria Tops Trade Value as All-Share Index Holds N128.9trn Market CapTrading on the Nigerian Exchange closed on a mixed note as MTN Nigeria led market activity by value, while the All-Share Index maintained a strong overall market capitalisation of about N128.9 trillion.
Market data shows that MTN Nigeria recorded the highest turnover, with transactions valued at approximately N7.07 billion, outperforming other major equities including Aradel Holdings, Zenith Bank, GTCO, and Oando.
Despite this strong activity in large-cap stocks, the broader market showed mild weakness, as the All-Share Index dipped slightly by 0.08 per cent to close at 196,463.2 points, reflecting profit-taking by investors after a sustained rally.
Total equity market capitalisation, however, remained resilient, holding around N128.9 trillion, underlining sustained investor confidence and the continued dominance of blue-chip stocks in driving market value.
In terms of volume, trading activity was led by stocks such as Veritas Kapital Assurance, Jaiz Bank, Universal Insurance, Zenith Bank, and Access Holdings, indicating broad participation across sectors even as value concentration remained skewed toward large-cap equities.
Market performance was mixed across individual stocks. Gains were recorded in equities like Premier Paints and Fortis Global Insurance, while declines were seen in Dangote Sugar Refinery and Jaiz Bank, both of which lost significant value due to sell-offs.
Analysts note that the Nigerian stock market remains on a bullish trajectory in the long term, supported by strong year-to-date returns above 26 per cent, although short-term corrections driven by profit-taking are expected.
The dominance of MTN Nigeria in trade value reinforces its position as a key market driver, with large-cap stocks continuing to exert significant influence on overall market direction and investor sentiment.
Source : Nairametrics
