NGX Market Capitalisation Climbs to ₦87.22 Trillion on Strong Investor Activity

Nigeria’s equities market advanced on Tuesday with the NGX All-Share Index nearing 138,000 points and market capitalisation increasing to ₦87.22 trillion.

The ASI increased from 135,166.51 points at the start of the session to close at 137,963.07 points while market capitalisation advanced from ₦85.46 trillion to ₦87.22 trillion.

The year-to-date return now stands at 33.99 percent, underscoring renewed investor confidence and strong corporate earnings expectations.

Top Gainers

Berger Paints led Tuesday’s advancers after its share price appreciated by ₦3.10 or 10 percent, closing at ₦34.10 from the previous ₦31.00.

Ellah Lakes followed closely, rising by ₦0.89 or 9.99 percent to end at ₦9.80, while Learn Africa gained ₦0.63 or 10 percent to finish at ₦6.93.

Top Losers

The session also recorded notable declines. Northern Nigeria Flour Mills (NNFM) led the laggards, dropping by ₦10.35 or 10 percent from ₦103.50 to ₦93.15.

Vitafoam shed ₦8.75 or 9.96 percent to close at ₦79.10, SIMG lost ₦4.15 or 9.93 percent to settle at ₦37.65, while International Breweries fell by ₦1.15 or 7.10 percent to close at ₦15.05.

Trading Activity

Investor participation remained robust, with 925,148,865 shares exchanged in 28,033 deals, valued at ₦29.87 billion.

Fidelity Bank, Royal Exchange, Jaiz Bank, Universal Insurance, and Access Holdings were among the most actively traded equities for the day.

Analyst Outlook

Market analysts maintain a cautiously optimistic stance, noting that the positive trajectory is driven by solid earnings expectations, particularly from the financial and consumer goods sectors.

Analysts at Coronation Research stated, “The momentum is expected to persist as investors tilt towards fundamentally strong stocks offering attractive dividend yields.”

Meristem analysts added that the equities market remains attractive, supported by valuation multiples in key sectors such as banking, industrial goods, and consumer goods. They cautioned, however, that intermittent profit-taking may occur given recent rallies.

With the ASI approaching 138,000 points, the Nigerian equities market appears on track to sustain its upward momentum, barring major macroeconomic shocks or unforeseen headwinds.