The Nigerian equities market continued its upward momentum on Thursday, adding N479 billion in market capitalization amid growing investor optimism spurred by ongoing economic reforms.
Data from the Nigerian Exchange (NGX) showed that the All-Share Index rose by 753.65 points, or 0.49 per cent, to close at 154,489.90 points. Market capitalization increased from N97.6 trillion to N98.1 trillion, reflecting a week-to-date gain of 4.14 per cent.
Trading volume also surged, with 926.91 million shares valued at N26.94 billion exchanged in 30,685 deals—a 57 per cent rise in volume and a 12 per cent increase in turnover compared to the previous session.
PZ Cussons Nigeria and The Initiates Plc led the day’s gainers, each rising by 10 per cent to close at N42.90 and N14.30 respectively. Lafarge WAPCO and CAP Plc also recorded significant gains.
Conversely, John Holt Plc and Multiverse Mining topped the losers’ chart, shedding 9.72 per cent and 9.71 per cent respectively.
Lafarge WAPCO led the market in transaction value with N6.98 billion in trades, followed by Seplat Energy, NASCON Allied Industries, Presco Plc, and Aradel Holdings.
Analysts attributed the positive market sentiment to policy stability, improved forex liquidity, and investor-friendly reforms from both fiscal and monetary authorities.
At the Financial Times Africa Summit 2025 in London, NGX Group CEO Temi Popoola highlighted that the reforms championed by President Tinubu’s administration have boosted market confidence.
With a year-to-date growth of 50.1 per cent, the Nigerian stock market remains one of the best-performing globally, signalling investor belief in the country’s reform-driven economic rebound.
