The Nigerian Exchange (NGX) delivered another landmark performance on Wednesday, with market capitalisation soaring to an unprecedented N155.59 trillion as investors intensified their buying activities across key sectors of the economy. The bullish momentum pushed the benchmark All-Share Index to a fresh all-time high of 242,459.98 points, reflecting renewed confidence in the Nigerian equities market and reinforcing its position as one of Africa’s strongest-performing exchanges in 2026.
Market analysts attributed much of the rally to the Central Bank of Nigeria’s decision to retain the Monetary Policy Rate at 26.50 per cent. The move provided investors with a sense of certainty at a time when global markets continue to grapple with economic uncertainties. With monetary conditions unchanged, both institutional and retail investors appeared more willing to channel funds into growth-oriented and blue-chip stocks, triggering a wave of bargain hunting that accelerated market gains.
The latest surge extends an impressive recovery streak for the market. After slipping to 224,321.97 points on July 2, the NGX has recorded consistent gains over consecutive trading sessions, highlighting strong investor appetite. Buying pressure was particularly evident in the industrial, banking, and energy sectors, which emerged as the primary drivers of Wednesday’s record-breaking performance. The strength of these sectors underscores growing optimism about corporate earnings and the broader outlook for the Nigerian economy.
Leading the charge among gainers were FBN Holdings and Wema Bank, both of which hit the maximum daily gain of 10 per cent to close at N60.50 and N29.70 respectively. Energy giant ARADEL also impressed investors, climbing nearly 10 per cent to N1,403.30 per share, while NGX Group and Dangote Cement recorded significant advances. Their performances reflected heightened demand for fundamentally strong companies, as investors positioned themselves for long-term value and potential dividend returns.
Despite the overwhelmingly positive sentiment, a handful of stocks faced intense selling pressure. NAHCO and Vitafoam both recorded the maximum daily loss of 10 per cent, while Chemical and Allied Products also ended the session sharply lower. Meanwhile, activity in the Exchange-Traded Funds segment was mixed, with VSPBONDETF posting notable gains and STANBICETF30 suffering a significant decline. In the fixed-income market, trading remained largely subdued as investors maintained existing positions, leaving the NGX Sovereign Bond Index unchanged. Overall, Wednesday’s performance signals a market increasingly driven by confidence, resilience, and expectations of stronger corporate growth in the months ahead.
source: punch