The Nigerian Exchange (NGX) extended its bullish momentum for the 25th consecutive session on Wednesday, pushing the market capitalisation to a new high of ₦92.25 trillion. This sustained rally has positioned the local bourse among the top-performing global markets in 2025.
Investor sentiment remains upbeat as strong corporate earnings and dividend declarations continue to draw attention to fundamentally sound equities. The rally, driven by renewed optimism and capital rotation from fixed income to equities, shows little sign of slowing.
Market data from the NGX revealed a sectoral shift, with the insurance index leading gains in an unusual turn, soaring by 9.87 percent—suggesting the sector remains undervalued despite recent reforms.
The All-Share Index (ASI) rose by 0.70 percent to close at 145,813.86 points, lifting year-to-date (YTD) returns to 41.67 percent. This performance was largely driven by sustained buying interest in medium- and large-cap stocks, particularly within the insurance sector.
The market’s capitalisation appreciated by ₦518.42 billion, reflecting a 0.57 percent increase, as trading activity surged. Total volume and value of trades jumped by 168.02 percent and 46.62 percent respectively, underscoring strong investor participation.
A total of 2.70 billion shares worth ₦32.63 billion exchanged hands across 35,137 deals.
Linkage Assurance (LINKASSURE) led the volume chart, accounting for 33.07 percent of total traded shares, followed by Sterling Financial (STERLINGNG) at 10.81 percent, AIICO (5.33 percent), Zenith Bank (3.55 percent), and LASACO (3.44 percent).
Zenith Bank emerged as the most traded stock by value, contributing 15.15 percent of the total turnover.
Top Gainers and Losers
Among the top gainers were JAIZ Bank, SCOA, HMCALL, Learn Africa, MANSARD, Mutual Benefits, MEYER, NEM Insurance, and Guinness Nigeria—all of which posted 10.00 percent gains. Other top advancers included Consolidated Hallmark (+9.97 percent), SterlingNG (+9.97 percent), C&I Leasing (+9.97 percent), Custodian Investment (+9.96 percent), Cornerstone Insurance (+9.96 percent), and 39 others.
On the losers’ chart, NGX Group and UACN declined by 10.00 percent each. They were followed by Multiverse (-9.68 percent), Champion Breweries (-5.31 percent), NASCON (-4.02 percent), VFD Group (-2.96 percent), and Zenith Bank (-1.98 percent).
Sectoral Performance
Market breadth remained positive with 53 stocks advancing against 26 that declined. Out of six sectoral indices, three posted gains.
The Insurance Index led the market, up 9.87 percent following the signing of the Insurance Reform Bill into law. Top performers in the sector included MANSARD and NEM, both up 10.00 percent.
The Industrial Goods Index rose by 2.85 percent, buoyed by gains in BUA Cement (+7.33 percent), while the Oil and Gas Index gained 0.96 percent, driven by OANDO (+9.46 percent).
In contrast, the Banking Index slipped by 0.36 percent, dragged by declines in Zenith Bank, and the Consumer Goods Index dipped 0.41 percent due to losses in International Breweries (-2.17 percent). The Commodity Index ended flat.
 extended its bullish momentum for the 25th consecutive session on Wednesday, pushing the market...){kind=link}