Nigerian Exchange Surges by N187 Billion as Investor Confidence Drives Market Momentum

The Nigerian Exchange (NGX) continued its positive streak on Wednesday, gaining N187 billion in market capitalisation amid strong investor optimism and increased trading activity. The All-Share Index rose by 296.39 points, or 0.27%, closing at 111,902.61 points, marking notable gains over one week, four weeks, and year-to-date performance.

Market capitalisation climbed from N70.4 trillion to N70.6 trillion, reflecting growing investor interest. Trading activity was robust, with 512.17 million shares valued at N17.12 billion exchanged across 16,711 deals. This represented a 25% increase in volume, a 73% rise in turnover, and a 4% increase in deal count compared to the previous session.

The market breadth was largely positive, with 39 stocks gaining and 28 declining out of 128 equities traded. University Press and Learn Africa led the gainers with 10% increases, while Academy Press and Abbey Mortgage Bank were among the top losers, both shedding nearly 10% in value.

Volume-wise, Japaul Gold topped the charts with 58.9 million shares traded, followed by Fidelity Bank and Custodian & Allied Insurance. Sector performances were mixed: Consumer Goods, Insurance, Oil & Gas, Premium, and Pension indices posted gains, although Insurance and Oil & Gas remain down year-to-date.

The bullish trend reflects renewed investor confidence, particularly in heavyweight stocks like Airtel Africa and insurance firms. The market’s continued upward trajectory suggests sustained optimism about Nigeria’s economic prospects and equity market resilience.

Source: Punch