The Nigerian Exchange (NGX) sustained its bullish momentum on Wednesday, with market capitalisation surpassing ₦97 trillion as investors gained ₦1.45 trillion in value.
Trading data showed that renewed investor interest in heavyweight stocks such as NASCON, Dangote Cement, MTN Nigeria, Aradel Holdings, and others drove market gains. The All-Share Index (ASI) climbed by 1.50%, closing at a record high of 153,736.25 points.
The NGX’s market capitalisation surged by ₦1.45 trillion to settle at ₦97.58 trillion, reflecting investors’ growing optimism over upcoming corporate earnings and strategic portfolio rebalancing by institutional fund managers.
Market participation improved as trading volume and value rose by 3.86% and 12.47%, respectively. Atlass Portfolio Limited reported that 573.23 million shares worth ₦23.1 billion were exchanged in 28,155 deals.
FIDELITY Bank led in trading volume, accounting for 16.13% of total market activity, followed by GTCO (13.53%), ACCESSCORP (10.12%), ZENITHBANK (4.08%), and JAIZBANK (3.81%). GTCO also dominated the value chart, representing 30.88% of total trade value.
ASOSAVINGS topped the gainers’ list, appreciating by 10%, followed by SKYAVN (+9.99%), NASCON (+6.80%), DANGCEM (+6.50%), TRANSCOHOT (+6.26%), and ARADEL (+5.98%).
On the flip side, profit-taking led to declines in 30 stocks. TIP fell by 5.73%, while CHAMPION, REGALINS, OANDO, and ACCESSCORP also posted moderate losses.
Sectoral performance was largely positive, led by the industrial sector (+3.45%) and oil & gas (+2.07%). The insurance and banking indices dipped slightly by -0.51% and -0.42%, respectively.
Analysts say the sustained bullish sentiment reflects investor confidence in Nigeria’s capital market resilience amid improving economic fundamentals.
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