Nigerian Stock Market Value Hits N93.8 Trillion as Bullish Run Continues on NGX — Investors Maintain Optimism

The Nigerian stock market continued its upward momentum on Wednesday, with the Nigerian Exchange Limited (NGX) extending its winning streak as market capitalization surged by ₦20 billion, bringing the total value to ₦93.8 trillion. This steady rise highlights the resilience of the market, as investors sustain buying interest despite a slowdown in overall trading activity.

The All-Share Index (ASI) inched up by 31.24 points, or 0.02%, to close at 147,742.20 points, reflecting confidence across key sectors. Although market turnover and volume fell by 29% and 21% respectively compared to Tuesday’s session, analysts noted that the moderate dip in activity did not dampen sentiment. A total of 388.93 million shares valued at ₦12.36 billion were traded across 22,986 deals, showing cautious optimism among investors.

In sectoral performance, 33 stocks recorded gains, led by Skye Shelter Fund, which appreciated by 9.88% to close at ₦418.75 per share. Royal Exchange followed with a 7.37% increase to ₦2.33, while International Energy Insurance and Julius Berger advanced by 6.05% and 5.51%, respectively. On the flip side, Tripple Gee and Company topped the losers’ chart with a 9.91% decline to ₦4.91, followed by Industrial and Medical Gases and UAC of Nigeria, which both suffered notable losses.

Fidelity Bank dominated trading volumes with 46.9 million shares worth ₦942.31 million, while Chams, Zenith Bank, and Access Holdings followed closely behind. In terms of value, Zenith Bank led with transactions worth ₦1.42 billion, trailed by Nigerian Breweries, GTCO, and Stanbic IBTC, indicating sustained institutional interest in banking and consumer goods stocks.

Overall, the NGX’s performance reflected broad-based resilience, with the Top 30, Consumer Goods, Pension, and Industrial indices all posting marginal gains. The Premium Index also rose by 0.04%, driven by renewed interest in blue-chip stocks. Market data shows a weekly gain of 1.39%, a four-week rise of 4.38%, and a year-to-date growth of 43.54%, underscoring strong investor confidence. Analysts believe the rally will persist as anticipation builds around third-quarter earnings reports and sustained institutional participation in the equities market.

source: punch