Nigerian equities rally N1.698 trillion as pension funds boost large-cap stocks
Nigerian equities surged N1.698 trillion on Thursday, extending a bullish rally. Key gainers included Okomu Oil (up 10% to N1,459.70), Deap Capital Management (10% to N6.93), and Fortis Global Insurance (10% to N55k). Pension Fund Administrators (PFAs) drove new investments into large-cap stocks, strengthening market momentum. The All-Share Index rose 1.39% to 193,073.57 points, with year-to-date returns at 24.09%. Japaul Gold led trading volume (80.12 million shares), while GTCO had the highest value traded (N6.20 billion). However, Multiverse Mining, Mc Nicholas, Tripple Gee, and Secure Electronic Technology fell 10% each.