NGX All Share Index Hits Record High As Market Capitalization Approaches ₦94 Trillion

The Nigerian Exchange (NGX) extended its upward momentum on Tuesday as the All-Share Index (ASI) inched higher by 0.06%, reflecting a mild rally driven by renewed investor interest in select blue-chip and mid-cap stocks.

Despite the moderate pace, the market’s performance pushed the year-to-date return to 43.6%, reinforcing bullish sentiment among market participants. The positive outing was supported mainly by bargain hunting across insurance, industrial, and consumer goods stocks.

At the close of trading, the NGX All-Share Index gained 89.41 basis points to settle at a fresh record high of 147,806.82 points, while market capitalization advanced by ₦56.74 billion, closing at ₦93.82 trillion.

The top gainers of the day included REGALINS (+8.82%), PRESTIGE (+6.71%), WAPIC (+6.45%), LEGENDINT (+5.45%), and CWG (+4.74%), showing increased investor appetite for insurance and tech-related equities. On the flip side, AUSTINLAZ (-7.90%), FIDSON (-6.67%), and DEAPCAP (-6.67%) were among the worst performers.

Although the market stayed positive, trading activity slowed as total volume and value dipped by 57.39% and 37.73%, respectively. According to data from Atlass Portfolio Limited, investors exchanged 262.45 million shares worth ₦8.27 billion across 16,693 deals.

FIDELITYBANK maintained its lead on the activity chart, accounting for 10.35% of total trades, followed by CHAMS (7.59%), TANTALIZER (7.46%), ACCESSCORP (6.13%), and SOVRENINS (4.42%).

In value terms, MTNN topped the trading chart with 14.23% of total market value. Other heavyweights that influenced the day’s rally included INTBREW (+3.57%), alongside 17 additional gainers.

Out of all listed equities, 36 recorded losses, resulting in a negative market breadth with 23 gainers and 36 losers. Sectoral performance, however, painted a mixed picture — the Insurance (+1.01%), Industrial (+0.30%), and Consumer Goods (+0.10%) sectors closed higher, while Banking (-0.37%) and Oil & Gas (-0.09%) sectors declined due to sell pressures.

Analysts believe the continued migration of funds from the fixed-income space into equities underscores growing investor confidence in the Nigerian stock market despite short-term volatility.