NGX Extends Rally as Market Capitalisation Gains ₦1.37 Trillion

The Nigerian Exchange (NGX) closed trading on Wednesday on a strong positive note as sustained buying interest across equities and exchange-traded products lifted key market indicators.

The NGX All-Share Index (ASI) rose by 1.28 percent to close at 168,030.18 points, reinforcing the market’s bullish momentum and reflecting renewed investor confidence.

As a result, total equity market capitalisation increased to ₦107.86 trillion, translating to an estimated ₦1.37 trillion gain in a single session.

Market Activity Overview

Trading activity remained robust as investors executed 42,095 deals, exchanging a total of 694.79 million shares valued at ₦20.57 billion. The volume and value levels indicate continued institutional participation, particularly in banking, insurance, and select mid-cap equities.

In the broader capital market, the bond market capitalisation stood at ₦51.15 trillion, while ETF market capitalisation closed at ₦136.27 billion, underscoring steady interest in fixed income and passive investment instruments.

Top Gainers

Price appreciation was led by sovereign and mid-cap stocks, with notable limit-up performances:

• FGSUK2032S7 surged by 99.98 percent to close at ₦100.00, reflecting pricing adjustments within the sovereign bond segment.

• DAAR Communications Plc gained 10.00 percent to close at ₦1.87.

• Berger Paints Plc advanced by 10.00 percent to ₦66.00.

• FTG Insurance Plc appreciated by 10.00 percent to ₦0.22.

• RT Briscoe Plc rose by 10.00 percent to close at ₦10.45.

The pattern suggests selective accumulation in stocks with improving sentiment and speculative positioning.

Top Losers

On the downside, profit-taking and price corrections were recorded in a few securities:

• FGSUK2032S5 declined sharply by 33.33 percent to ₦100.00.

• Red Star Express Plc fell by 9.97 percent to ₦17.15.

• Deap Capital Management Plc dropped by 9.97 percent to ₦6.86.

• UHOMREIT shed 9.95 percent to close at ₦69.25.

• MCNichols Plc depreciated by 9.93 percent to ₦6.53.

Losses were largely technical, reflecting market rebalancing rather than broad-based weakness.

Most Active Stocks

By volume and value, activity was concentrated in financial and technology-related stocks:

• CHAMS Plc led volumes with 57.44 million shares, valued at ₦256.31 million.

• Universal Insurance Plc followed with 56.22 million shares worth ₦88.76 million.

• First HoldCo Plc recorded 35.33 million shares, accounting for ₦1.67 billion in turnover.

• Deap Capital Management Plc traded 26.79 million shares, valued at ₦187.00 million.

• Wema Bank Plc exchanged 26.66 million shares, worth ₦674.59 million.

Banking stocks continued to attract liquidity, reinforcing their role as market drivers.

ETF Performance

Exchange-traded funds closed broadly positive, reflecting strength across equity and fixed income exposures:

• SIAMLETF40 rose to ₦9,257.00, gaining ₦839.00.

• STANBICETF30 increased by ₦395.35 to ₦4,348.92.

• GREENWETF advanced to ₦879.30.

• VETINDETF closed at ₦190.94.

• VSPBONDETF edged higher to ₦626.00.

Fixed Income Market

Selected bonds including ABC2027S0, ADV2031S1B, CIL2028S2, FG5B2028S5, and FGEUR2027S2 all closed flat at ₦100.00, indicating stability in the sovereign debt market.

Market Outlook

The sustained rise in the All-Share Index, combined with strong turnover and ETF participation, suggests that investors remain optimistic amid portfolio repositioning. Near-term market direction is expected to remain positive, supported by selective bargain hunting, earnings positioning, and continued liquidity flow into equities and ETFs.