The Nigerian Exchange (NGX) has achieved a significant financial milestone, surpassing ₦84 trillion in market capitalization, after equity investors gained more than ₦406 billion in a single trading session on Thursday.
Continuing its bullish trajectory, the NGX All-Share Index (ASI) climbed 0.48% to close at 133,199.99 points, pushing the year-to-date gain to an impressive 29.41%. The rally was driven by robust buying activities across key sectors, spurred by optimism around corporate earnings and strategic positioning in fundamentally sound equities.
Market participants responded positively to strong half-year earnings reports, with expectations still high for forthcoming results from other listed firms. This renewed confidence fueled a surge in demand, especially in the insurance, oil & gas, and banking sectors, which rose 2.72%, 1.32%, and 1.05%, respectively.
The trading floor recorded higher levels of activity, as total transaction volume grew by 11.87%, and the overall value of trades jumped 29.01%. Stockbrokers executed roughly 762.11 million shares, valued at ₦21.95 billion, spread across 22,712 transactions.
Leading the pack in trade volume was JAPAULGOLD, accounting for 10.29% of total shares exchanged. Other top performers included UBA (8.97%), ACCESSCORP (7.98%), CONHALLPLC (6.84%), and Nigerian Breweries (5.05%).
On the value leaderboard, UBA dominated, contributing 15.05% of total market turnover for the day.
In the gainers’ category, ACADEMY, FTNCOCOA, and SOVRENINS led with a full 10% increase each. They were closely followed by RTBRISCOE, TIP, GUINNESS, OANDO, and LEGENDINT, all rising above 9.9%.
Meanwhile, thirty-three stocks closed in the red, with JOHNHOLT, ABCTRANS, and UNIONDICON leading the losers list, each shedding 10%. Other notable decliners included NEIMETH (-8.59%), HMCALL (-8.51%), BERGER (-8.15%), and LIVESTOCK (-6.25%).
The market breadth remained positive, showing 46 advancing stocks against 33 losers, reflecting the continued interplay between profit-taking and value investing.
Sector-wise, the trend was predominantly bullish. Alongside Insurance, the Oil & Gas, Banking, Consumer Goods (+0.30%), Industrial Goods (+0.25%), and Commodities (+0.07%) sectors also posted gains, reinforcing investor confidence in Nigeria’s economic outlook.
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