Nigerian stock market gains ₦440 billion as institutions pile into banking stocks
TL;DR
The All-Share Index (ASI) closed at 252,841.39 points on May 13, a 0.04% gain, pushing total market capitalisation to ₦162.05 trillion, a ₦440 billion rise in a single session.
Trading value surged to ₦109.44 billion across 1.68 billion shares and 76,557 deals, the highest trading value in recent days, driven heavily by institutional buying in banking stocks. First HoldCo Plc alone recorded ₦43.61 billion in trades.
Market breadth was positive with multiple sectors gaining. Livestock Feeds, Computer Warehouse Group, and Fidson Healthcare each rose 10%, while declines were concentrated in previously high-performing stocks, signalling orderly profit-taking rather than panic selling.
Intelligence
The elevated trading volumes and institutional accumulation in tier-one banking stocks signal that large capital allocators, pension funds, asset managers, and foreign portfolio investors are actively building positions in Nigerian equities, not just speculating.
For retail investors and portfolio managers watching the Nigerian Stock Exchange over the next 4 to 8 weeks, the key question is whether this consolidation phase resolves into a breakout above current index levels or stalls as profit-taking widens.
The rotation into fundamentally driven mid-tier stocks like healthcare and consumer goods suggests institutional money is spreading beyond banking, which could lift broader index performance if liquidity holds.
11 companies and people in this story have tracked profiles.
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