The Nigerian Exchange (NGX) reached a historic market capitalization milestone of ₦88 trillion on Wednesday, fueled by strong earnings reports and interim dividend announcements across multiple sectors.
The All-Share Index (ASI) climbed by 1%, closing at 139,278.67 points and delivering a 35.32% year-to-date return. This surge reflects growing investor confidence and a bullish sentiment surrounding the financial health of listed firms.
Out of the equities traded, 39 gained while 32 declined, reflecting strong buying momentum driven by positive half-year results. Banking stocks led the charge with a 1.94% gain, while industrial goods and commodities also closed in the green.
Daily transaction figures showed that 905.73 million shares worth ₦34.17 billion were exchanged in 36,027 deals. FIDELITYBK led in trade volume (10.16%), trailed by ACCESSCORP, UNIVINSURE, FCMB, and GTCO. MTNN dominated value trades, accounting for 10% of total market value.
Top gainers included MULTIVERSE and ROYALEX (each up 10%), BERGER (+9.97%), DANGSUGAR (+9.97%), and NPFMCRFBK (+9.97%). ABBEYBDS and FTNCOCOA were among the biggest losers, shedding 10% apiece.
The sectoral breakdown showed positive performance in Banking (+1.94%), Industrial Goods (+1.35%), and Commodities (+0.04%), while Insurance and Oil & Gas fell by 0.95% and 0.08%, respectively. Consumer goods remained flat.
At close, the NGX added ₦868.69 billion in value, lifting the total equity market capitalization to ₦88.06 trillion, representing a 1% daily gain.
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