The Nigerian Exchange (NGX) continued its bullish streak on Thursday, reaching a historic milestone as market capitalisation surged to ₦78.73 trillion. This growth, driven by investor confidence and strategic listings, resulted in a remarkable ₦1.76 trillion increase in market value.
Despite a mix of positive and negative movements in performance indicators, the overall sentiment remained upbeat, with the All-Share Index (ASI) jumping by 2.01%, or 2,457.13 points, to close at a record high of 124,446.80.
The rally was significantly influenced by the fresh listing of Guaranty Trust Holding Company (GTCO) Plc’s public offer—comprising 2,288,250,000 ordinary shares priced at ₦70.00 per share. While this listing pushed market capitalisation higher, it also introduced a temporary divergence between the ASI and market value.
Market analysts and stockbrokers noted that investor enthusiasm remains elevated, marking the seventh straight day of positive performance at the local bourse. Strong buying pressure was observed across key sectors including banking, insurance, consumer goods, oil & gas, and industrials.
According to market data, trading activity rose sharply, with the total trade volume and value increasing by 44.05% and 77.62% respectively. A report from Atlass Portfolio Limited noted that approximately 1.28 billion shares worth ₦27.73 billion were exchanged in 27,875 transactions.
In terms of trade volume, ACCESSCORP led the market with 13.62% of all shares traded, followed by AIICO (6.41%), JAPAULGOLD (5.79%), UBA (5.04%), and FCMB (4.95%). ACCESSCORP also emerged as the top stock by trade value, accounting for 14.38% of the total.
Several equities saw impressive price gains, with FTNCOCOA, HMCALL, UBA, UPDC, CAVERTON, and CONHALLPLC each rising by 10.00%. Other top gainers included REDSTAREX (+9.99%), ABCTRANS (+9.97%), CAP (+9.96%), ELLAHLAKES (+9.95%), and AIICO (+9.95%).
However, ten equities ended the day in the red. NEIMETH topped the losers’ chart, shedding 9.91% in value. Other decliners were LEGENDINT (-9.88%), CADBURY (-6.22%), LIVESTOCK (-5.67%), VFDGROUP (-2.86%), and DANGSUGAR (-0.19%).
The market closed with strong breadth, recording 70 advancing stocks compared to just 10 decliners. Sector performance also ended on a high, with all five major sectors covered by Atlass Portfolio Limited posting gains.
The insurance sector led the rally with a 3.96% increase, followed by the banking sector which gained 3.86%. The consumer goods sector rose by 1.15%, while the industrial and oil & gas sectors appreciated by 0.25% and 0.04% respectively.
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