Nigeria’s equity market extended its bullish run on Wednesday, adding approximately N970 billion to its total market capitalisation as institutional liquidity from the nation’s pension pool poured into the country’s stock market.
The All Share Index (ASI) climbed 0.78%, supported with a war chest of over N27.45 trillion in pension funds, and sustained by stocks like Nestle Nigeria Plc, Julius Berger Nigeria Plc, and Transcorp Hotels Plc. 49 stocks gained against 32 losers, signalling increased buy activities on the Lagos Bourse.
“Investors should monitor the Pension Index as it often signals where long-term institutional ‘sticky’ capital is moving,” Vetiva research analysts in their recent note.
