The Nigerian Exchange (NGX) extended its upward trend on Thursday, closing above the ₦74 trillion threshold for the first time as strong investor demand led to a ₦445 billion boost in market capitalization.
The bullish sentiment, which began midweek, continued to gain momentum as bargain hunters targeted undervalued equities across key sectors. NGX’s All-Share Index (ASI) advanced by 704.97 basis points to finish at 117,861.13—representing a daily gain of 0.60% and a record high for the index.
A robust rally in both mid-cap and blue-chip stocks, including BETAGLASS, ETERNA, and STANBIC, contributed significantly to the surge. A total of 42 equities posted gains, far outweighing 20 decliners, underscoring widespread investor optimism linked to improved economic indicators.
Atlass Portfolio Limited reported that trading volume on the NGX rose by 39.67% to 893.97 million units, although the value of transactions dipped by 15.31%, totaling ₦22.03 billion across 17,257 deals.
CHAMPION emerged as the volume leader, commanding 37.34% of all shares traded during the session. It was followed by GTCO (7.04%), PZ (5.24%), ZENITHBANK (4.22%), and ACCESSCORP (4.04%). In value terms, GTCO topped the list, accounting for 22.74% of all market transactions.
On the leaderboard, IKEJAHOTEL recorded the day’s strongest performance with a 10% price appreciation, followed closely by BETAGLASS (+9.98%), LEGENDINT (+9.92%), UPL (+9.85%), and ETERNA (+9.82%). Other notable gainers included LIVINGTRUST and 36 others.
On the flip side, GUINEAINS led the decliners, dropping 9.21%. Other laggards included HMCALL (-5.88%), FIDSON (-4.65%), MULTIVERSE (-2.03%), NGXGROUP (-1.19%), and HONYFLOUR (-0.71%).
All major sectors closed in the green, highlighting the depth of investor interest. The banking sector led with a 2.99% increase, followed by insurance (1.53%), consumer goods (1.02%), oil and gas (0.24%), and industrial goods (0.16%).
The market’s strong performance drove total capitalization to ₦74.36 trillion, reflecting renewed confidence in the Nigerian capital market amid a backdrop of encouraging macroeconomic reforms.
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