The Nigerian Exchange (NGX) extended its bullish run, crossing the ₦87 trillion mark in total market capitalisation, propelled by strong rallies in heavyweights such as Dangote Cement, GTCO, and MTN Nigeria.
Market value swelled by approximately ₦1.74 trillion as investors reacted positively to robust second-quarter earnings reports released by listed firms. The NGX’s benchmark All-Share Index climbed by 2.03%, driving year-to-date performance up to 33.99%.
Investor sentiment remained optimistic, with heightened buying activity focused on medium to large-cap stocks such as DANGSUGAR, ELLAHLAKES, BERGER, and MTNN. Analysts pointed to the ongoing release of half-year financials as a major catalyst, fuelling hopes of stronger earnings from companies yet to report.
The All-Share Index surged by 2,746.36 basis points, closing at a record-breaking 137,912.87 points — a 2.03% jump from the previous close.
Trading activity was upbeat, according to NGX data, with total transaction volume and value increasing by 18.25% and 31.84%, respectively. A market report by Atlass Portfolio Limited noted that investors exchanged around 940.80 million units worth ₦30.63 billion in 28,358 executed deals.
FIDELITYBK topped the volume chart, contributing 11.87% of the day’s total trades. ROYALEX (7.90%), JAIZBANK (6.49%), UNIVINSURE (4.08%), and ACCESSCORP (3.93%) followed closely.
In terms of trade value, MTNN dominated, accounting for 11.76% of the total turnover. On the price leaderboard, BERGER, HMCALL, LEARNAFRCA, and THOMASWY each recorded a 10.00% gain to top the advancers’ chart.
Other notable gainers included ELLAHLAKES (+9.99%), MTNN (+9.99%), ACADEMY (+9.96%), DANGSUGAR (+9.94%), and UACN (+9.93%). A total of 42 additional stocks posted gains.
Conversely, ABBEYBDS and NNFM led the laggards with 10.00% losses each. VITAFOAM (-9.96%), INTBREW (-7.10%), ETRANZACT (-4.76%), MAYBAKER (-3.19%), and OANDO (-1.72%) also declined.
With 51 gainers versus 25 losers, the market breadth remained solidly in positive territory. Sectoral performance was broadly upbeat: Banking (+2.34%), Insurance (+1.93%), Consumer Goods (+2.78%), Oil & Gas (+2.46%), Industrial Goods (+4.10%), and Commodities (+1.62%).
The overall market capitalisation settled at ₦87.19 trillion, reflecting a 2.03% increase, underpinned by persistent bargain hunting and strong corporate earnings outlooks.
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