The Nigerian Exchange (NGX) recorded a historic milestone on Thursday, with investors smiling to the bank as the market gained a massive N1.806 trillion in a single trading day.
This follows a strong performance by the All-Share Index (ASI), which surged by 2,457.13 points or 2.01%, closing at an all-time high of 124,446.80 — the first time it has crossed the 124,000 mark. Wednesday’s close stood at 121,989.67.
The impressive rally has been credited to rising investor confidence, improved liquidity, and ongoing economic reforms that continue to boost sentiment in Nigeria’s capital market.
Market capitalisation also climbed by 2.35%, hitting N78.726 trillion, up from N76.970 trillion the previous day.
The day ended with 70 gainers against just 10 losers, highlighting strong bullish sentiment across the board.
Top gainers included:
FTN Cocoa – gained 10% to close at N6.82
UPDC – gained 10% to N4.62
United Bank for Africa (UBA) – up 10% to N39.60
Consolidated Hallmark Holdings – up 10% to N3.30
Haldane McCall – up 10% to N4.73
On the flip side, some stocks recorded losses:
Neimeth Pharmaceuticals dropped 9.91% to N9.00
Legend Internet declined 9.88% to N7.21
Industrial and Medical Gases shed 7.36% to N34.00
Cadbury Nigeria fell 6.22% to N55.00
Livestock Feeds lost 5.67% to N9.15
Market activity also showed a significant jump, with 1.3 billion shares valued at N27.73 billion traded in 27,875 deals — up from 888.7 million shares worth N15.61 billion in 24,303 deals on Wednesday.
Top traded equities by volume included:
Access Corporation – 174.22 million shares worth N3.99 billion
AIICO Insurance – 81.96 million shares worth N165 million
Ja Paul Gold – 74.01 million shares valued at N245.2 million
UBA – 64.51 million shares worth N2.52 billion
First City Monument Bank (FCMB) – 63.3 million shares worth N585.75 million
Thursday’s performance marks a significant boost for the Nigerian capital market, signaling strong investor optimism and a renewed appetite for equities amidst an improving economic outlook.
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