NaijaBuzz

Fresh Naija News • Football • Gossip • Entertainment • World Updates
All News Naija News Gossip Football Sports Entertainment Lifestyle Education Tech Viral World

Stock Market Advances N6.79trn WoW as PenCom Raise Equity Limits for Pension Funds

Naija News • 2h ago
Stock Market Advances N6.79trn WoW as PenCom Raise Equity Limits for Pension Funds
**Market Soars N6.79trn: Pension Funds Get Boost from PenCom Decision** The Nigerian stock market has made a significant leap of N6.79 trillion in just one week, courtesy of a policy change by the National Pension Commission (PenCom). The new policy, announced on February 9, 2026, allows pension funds to invest more in equities, injecting fresh liquidity into the market. This change has brought cheer to investors as the share prices of top companies, known as blue-chip stocks, have seen significant gains. PenCom's decision to revise investment limits for ordinary shares in RSA Funds I, II, III, and VI-Active has been seen as a step in the right direction. The regulator has increased equity allocation caps across multiple Retirement Savings Account (RSA) fund classes, giving pension funds more freedom to invest in the stock market. As a result, the market capitalisation has risen to N117.027 trillion, a whopping increase of N6.79 trillion in just one week. The NGX All-Share Index (ASI) has also seen a significant gain of 6.16 per cent, taking its Month till Date (MtD) and Year-till- Date (YTD) returns to +10.1 per cent and +17 per cent, respectively. The market is looking positive, with 79 stocks advancing and only 27 declining, indicating broad-based buying interest. Some of the top gainers in the market include Zichis Agro Allied Industries, which saw its share price soar by 60.71 per cent to close at N10.80 per share. Union Dicon Salt followed closely with a gain of 60.15 per cent to close at N20.90 per share. Meanwhile, some stocks like Abbey Mortgage Bank, Sovereign Trust Insurance, and Ecobank Transnational Incorporated (ETI) saw declines, with Abbey Mortgage Bank leading the pack with a loss of 26.42 per cent. Last week, a total of 4.652 billion shares worth N193.326 billion were traded by investors on the floor of the Exchange. The Financial Services Industry led the activity chart, accounting for 59.81 per cent of the total equity turnover volume and 38.31 per cent of the total equity turnover value. As we enter a new week, the market is expected to retain its positive momentum. In the near term, Cowry Asset Management Limited is optimistic about the market
Source: Original Article. AI-enhanced version.