Nigerian Stock Exchange Hits Historic High as Investors Gain ₦1.806 Trillion in One Day

The Nigerian Stock Exchange, operating under the Nigerian Exchange Group (NGX) Limited, has achieved a remarkable milestone, with investors recording a massive gain of ₦1.806 trillion in a single trading session.

This surge was driven by a significant increase in the All-Share Index (ASI), which jumped by 2,457.13 points, or 2.01%, closing at 124,446.80 points. This marks the first time the index has crossed the 124,000 mark, up from its previous close of 121,989.67.

The market’s impressive performance has been attributed to growing investor confidence in the Nigerian equities market, supported by improved liquidity and ongoing economic reforms. Consequently, the market capitalisation rose by 2.35% to ₦78.726 trillion on Thursday, compared to ₦76.970 trillion on Wednesday.

Market breadth also closed on a strong note, with 70 stocks posting gains while only 10 declined.

Among the top gainers, FTN Cocoa led the pack with a 10% increase, closing at ₦6.82 per share. UPDC also advanced by 10% to ₦4.62 per share. United Bank for Africa (UBA) gained 10% to settle at ₦39.60, while Consolidated Hallmark Holdings rose 10% to ₦3.30 per share. Haldane McCall rounded out the list of top performers, also gaining 10% to close at ₦4.73 per share.

On the flip side, Neimeth International Pharmaceutical was the biggest loser, dropping by 9.91% to ₦9 per share. Legend Internet declined by 9.88% to ₦7.21, while Industrial and Medical Gases fell by 7.36% to ₦34. Cadbury Nigeria dropped 6.22% to ₦55 per share, and Livestock Feeds lost 5.67% to close at ₦9.15 per share.

Market activity was robust, with 1.3 billion shares valued at ₦27.73 billion traded across 27,875 deals. This represents an increase from Wednesday’s figures of 888.70 million shares worth ₦15.609 billion exchanged in 24,303 transactions.

Access Corporation topped the activity chart with 174.22 million shares traded, worth ₦3.99 billion. AIICO Insurance followed with 81.96 million shares valued at ₦165 million, while Ja Paul Gold saw 74.01 million shares traded, worth ₦245.2 million.

UBA recorded 64.51 million shares exchanged, valued at ₦2.52 billion, while First City Monument Bank (FCMB) traded 63.3 million shares worth ₦585.75 million.