The Nigerian Exchange Limited (NGX) recorded a major milestone on Thursday as investors gained N1.806 trillion in a single trading session. This followed a sharp increase in the All-Share Index (ASI), which rose by 2,457.13 points, or 2.01%, to close at 124,446.80 the highest level in the history of the exchange.
The ASI had previously closed at 121,989.67. Thursday’s rise pushed the index beyond the 124,000 mark for the first time.
Similarly, market capitalisation rose by 2.35%, settling at N78.726 trillion, compared to N76.970 trillion recorded on Wednesday.
Market analysts attributed the gains to improved investor confidence, better liquidity conditions, and ongoing economic reforms that have boosted interest in the Nigerian equities market.
Market breadth closed strongly positive, with 70 gainers and just 10 losers. Among the top gainers were FTN Cocoa, UPDC, United Bank for Africa (UBA), Consolidated Hallmark Holdings, and Haldane McCall — each gaining 10% to close at N6.82, N4.62, N39.60, N3.30, and N4.73 per share, respectively.
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On the losers’ side, Neimeth International Pharmaceutical declined by 9.91% to N9, while Legend Internet lost 9.88% to close at N7.21. Industrial and Medical Gases dropped 7.36% to N34, Cadbury Nigeria fell 6.22% to N55, and Livestock Feeds decreased by 5.67% to N9.15.
Trading activity also increased significantly. A total of 1.3 billion shares valued at N27.73 billion were traded across 27,875 deals. This represents a marked increase from the 888.7 million shares worth N15.61 billion exchanged in 24,303 deals on Wednesday.
Access Corporation led the volume chart with 174.22 million shares traded at a value of N3.99 billion. It was followed by AIICO Insurance with 81.96 million shares worth N165 million, Ja Paul Gold with 74.01 million shares valued at N245.2 million, UBA with 64.51 million shares worth N2.52 billion, and First City Monument Bank (FCMB) with 63.3 million shares valued at N585.75 million.
The NGX’s strong performance marks a significant moment for the Nigerian capital market, with stakeholders hopeful that the positive momentum will continue in the coming weeks.
