The Nigerian Exchange (NGX) soared to a historic milestone on Tuesday, as its market capitalisation crossed the N70 trillion mark for the first time. Investors recorded a collective gain of N1.04 trillion, buoyed by sustained bullish sentiment in the equities market.
Riding on the momentum of the previous session’s rally, the NGX All-Share Index surged by 1,653.10 points, or 1.50%, to close at a new all-time high of 111,606.22 points.
The upward trend was driven by strong buying interest in medium- and large-cap stocks, notably AIRTELAFRI, NAHCO, and ARADEL, which posted significant price gains.
Despite the rally, market activity declined slightly. Total volume of trades dipped by 1.19% to 409.57 million units, while the total value of trades fell by 11.04% to N9.87 billion, executed across 15,992 deals.
CUSTODIAN led the activity chart by volume, accounting for 9.23% of total trades, followed by FIDELITYBK (9.08%), VERITASKAP (8.10%), ZENITHBANK (6.74%), and ACCESSCORP (5.82%). In value terms, GTCO topped the chart with 15.95% of total traded value.
On the gainers’ chart, AIRTELAFRI led with a 10.00% price appreciation, followed by OMATEK (+9.23%), CORNERST (+8.63%), NAHCO (+8.39%), and UPL (+6.47%).
Conversely, MCNICHOLS led the laggards with a 9.80% loss, trailed by CHAMPION (-7.38%), JAIZBANK (-4.46%), CADBURY (-4.45%), and STERLINGNG (-3.08%).
Market breadth closed positive, with 35 gainers and 21 losers. All five sectoral indices posted gains, led by the Insurance sector (+2.23%), followed by Banking (+0.84%), Oil & Gas (+0.76%), Industrial (+0.46%), and Consumer Goods (+0.13%).
Overall, the Nigerian Exchange market capitalisation rose by N1.042 trillion to settle at N70.38 trillion, marking a significant milestone in the NGX’s growth trajectory.
