Nigerian Stock Market Hits Historic High as All-Share Index Crosses 200,000 Points

The Nigerian stock market reached an unprecedented milestone on Wednesday as the All-Share Index (ASI) surged past the 200,000-point mark, closing at a record 200,957.89 points. This growth of 0.27 per cent, adding 32.14 points to the benchmark, pushed the overall market capitalisation up by N21 billion to N128.998 trillion, signalling a period of optimism for investors and market participants alike.

Market analysts attributed this historic surge to strong buying interest across a mix of medium and large-cap stocks. Key drivers included Premier Paints, Red Star Express, Zenith Bank, John Holt, and Nigerian Breweries, which collectively supported the day’s upward momentum. However, despite the record high, market breadth turned slightly negative, with 36 stocks declining against 30 gainers, reflecting selective investor confidence.

Among the top performers, Premier Paints and Zichis Agro Allied Industries led with a maximum 10% price gain, closing at N34.10 and N12.54 respectively. Legend Internet followed closely with a 9.92% rise, while John Holt and McNichols also posted notable gains. On the downside, University Press recorded the steepest decline of 9.17%, with SUNU Assurance and Veritas Kapital Assurance trailing at 8.88% and 6.98% losses respectively, highlighting the market’s uneven performance.

Trading activity remained robust, with total share volumes increasing by 26.05% to 678.13 million units, valued at N33.139 billion across 42,222 deals. Access Holdings led in activity, accounting for over 134 million shares valued at N3.498 billion. Other high-volume stocks included Wema Bank, Veritas Kapital Assurance, Zichis Agro Allied Industries, and United Bank for Africa, demonstrating strong investor engagement amid the milestone index level.

While the record-breaking ASI paints a positive picture, analysts remain cautiously optimistic. Experts at Imperial Asset Managers Limited described market sentiment as “cautiously positive” but noted declining participation and narrowing breadth. They forecast mixed trading in the near term, with continued rotation into consumer goods and insurance sectors, while profit-taking may persist in banking stocks. Heavyweights like MTNN, GTCO, and Zenith Bank are expected to continue driving overall market direction.

source: punch