Breaking: Nigerian investors gain N99bn as market cap rises to N157.042 trillion despite negative breadth

Breaking: Nigerian Exchange Limited trading on Wednesday saw market capitalisation increase by N99 billion (0.06%) to N157.042 trillion, with the All-Share Index rising 154.59 points to 244,852.21. This pushed the year-to-date return to 57.35%. Livestock Feeds led gainers at +10% (N9.35), while Deep Capital, Abbey Mortgage Bank, Vitafoam, and FTN Cocoa Processors also advanced.

However, market breadth remained negative with 37 stocks declining against 30 gainers. FG142037S2 topped decliners at -26.67% (N95.33), followed by Neimeth Pharmaceuticals, International Energy Insurance, John Holt, and Union Homes REIT. Total trading volume fell 3.47% to 1.23 billion shares worth N38.84 billion across 54,193 transactions.

Sterling Nigeria dominated activity with 565.33 million shares traded (46.1% of volume), while Aradel led in value at N6.82 billion (17.55% of market value). Despite the headline gain, the disproportionate volume in few stocks and widespread losses suggest concentrated buying rather than broad market confidence.

With the market showing strength in select names but weakness across most listings, should Nigerian investors interpret this as a sustainable bull run or prepare for potential correction as seen in previous volatile sessions this year?

SOURCE: https://dailypost.ng/2026/06/11/investors-gain-n99bn-at-nigerian-stock-market/