Nigerian equities posted a sharp rally this week, with the benchmark index climbing 2.15% to add N3.168 trillion to the total market capitalization.
The advance pushed the aggregate value of listed companies higher, signaling renewed confidence in the local equity market despite broader macroeconomic headwinds.
The rally came even as trading volumes declined, highlighting a divergence between price appreciation and liquidity.
This dynamic suggests that the upward move is being driven by a concentrated set of buyers rather than broad-based institutional inflows.
Investors are increasingly looking at fixed-income instruments alongside equities to unlock value in Nigeria's capital markets, according to market commentary from NM Partners.
The recent price action follows a period of volatility, with the market closing the previous week with a net gain of N622 billion in market capitalization.