Blue-Chip Stocks Drive NGX Market Capitalization Up by N308bn as Investor Confidence Strengthens

The Nigerian Exchange (NGX) extended its bullish momentum on Thursday, adding ₦308 billion to market capitalization as renewed investor appetite for blue-chip stocks continued to boost overall performance. The positive trading session marked the third consecutive day of gains, reflecting growing optimism in Nigeria’s equity market.

At the close of trading, the market capitalization rose to ₦92.8 trillion from ₦92.5 trillion the previous day. Similarly, the All-Share Index (ASI) climbed by 485.22 points, or 0.33%, to settle at 146,204.31 basis points. Analysts said the rise was driven mainly by increased demand in key sectors such as industrial goods, insurance, and premium stocks, which helped sustain market momentum.

Despite a dip in trading volume, turnover soared, signaling strong investor confidence. Data from the NGX showed that 346.95 million shares worth ₦27.42 billion were traded in 24,661 deals — a 34% decline in volume, but a remarkable 102% rise in value compared with the previous session. In total, 129 listed equities participated in the day’s trading, with 32 gainers and 21 losers.

Among the top gainers, Eunisell Interlinked and Caverton Offshore Support Group led with 10% appreciation each, closing at ₦44.00 and ₦6.93 per share, respectively. Sunu Assurances Nigeria gained 9.9% to close at ₦5.77, while Industrial and Medical Gases rose 9.1% to ₦35.95 per share. On the flip side, FTN Cocoa Processors shed 6.67% to ₦5.60, followed by Tantalizers, Fidelity Bank, and PZ Cussons, which also recorded modest declines.

Across sectoral indices, the market remained largely upbeat. The Industrial Index advanced 0.67%, Insurance Index gained 0.64%, and the Premium Index rose 0.57%. Similarly, the Consumer Goods and Banking Indices climbed 0.43% and 0.26%, respectively. So far, the All-Share Index has appreciated 2.26% week-on-week, 4.16% in the past month, and 42.05% year-to-date, underscoring a strong rally in 2025.

Market watchers attribute the sustained uptrend to renewed investor confidence, improved corporate earnings, and increased demand for high-value stocks, particularly in the industrial and insurance sectors. This follows Wednesday’s ₦459bn surge, which had been driven by similar buying interest in banking and oil stocks. Analysts suggest that the current market sentiment could position the NGX for further gains if macroeconomic indicators remain stable and listed companies maintain their earnings momentum.

source: punch