NGX Extends Rally as Investors Push Market Capitalisation Above N160 Trillion

The Nigerian Exchange (NGX) extended its bullish momentum on Monday as sustained buying in heavyweight stocks lifted equity market capitalisation above the N160 trillion mark.

The NGX All-Share Index (ASI) advanced 0.29 percent from 246,992.44 points to close at 247,699.78, while equity market capitalisation increased by approximately N1.04 trillion from N159.559 trillion on Friday to N160.600 trillion.

The market’s positive performance was driven primarily by gains in large-cap stocks, with Aradel Holdings Plc climbing 5.38 percent and MTN Nigeria Communications Plc adding 2.45 percent. Their strong performances helped offset declines across several other equities and provided the momentum that lifted the benchmark index higher.

Market Summary

Despite the positive close, trading remained measured.

Investors exchanged 407.85 million shares worth N27.25 billion in 52,322 deals, suggesting that while confidence remained positive, capital deployment was concentrated in selected equities rather than spread across the broader market.

Among the day’s top gainers, Zichis Plc appreciated 9.97 percent, Aradel Holdings Plc gained 5.38 percent, NSLTech Plc rose 4.29 percent, International Breweries Plc advanced 3.02 percent, while MTN Nigeria climbed 2.45 percent.

On the downside, Omatek Ventures Plc and Caverton Offshore Support Group Plc both declined 10.00 percent, while CMFC Plc and SUNU Assurances Nigeria Plc also recorded sharp losses, indicating that profit-taking persisted in parts of the market even as the benchmark index advanced.

Banking stocks continued to dominate trading activity.

Access Holdings Plc emerged as the most actively traded equity with 40.04 million shares valued at N1.19 billion, followed by FCMB Group Plc, Sterling Financial Holdings Company Plc and GTCO Plc. Although Access Holdings led by volume, GTCO generated the highest transaction value among the leading stocks at N2.24 billion, reflecting sustained institutional interest in large-cap banking equities.

The day’s trading also highlighted growing investor interest beyond the financial sector.

Strong gains in Aradel Holdings and MTN Nigeria indicate that energy and telecommunications stocks provided important support for the market, while International Breweries featured among the top gainers, pointing to selective buying in consumer goods.

Overall, Monday’s session reinforced the Nigerian Exchange’s positive momentum, with equity market capitalisation crossing N160 trillion for the first time in the current rally.

Although trading activity remained moderate and selling pressure persisted in several stocks, continued buying in heavyweight counters suggests investors remain optimistic, focusing on fundamentally strong and highly capitalised companies as the market extends its upward trajectory.