NGX hits ₦132.49trn as bullish momentum lifts equities market

Nigeria’s equities market extended its positive run on Tuesday, with the market capitalisation of the Nigerian Exchange climbing above ₦132 trillion, driven by strong demand in key blue-chip stocks.

The market closed with a ₦865 billion gain, pushing total capitalisation to ₦132.49 trillion, as sustained buying interest in heavyweight counters lifted overall performance.

The benchmark All-Share Index rose by 0.66 per cent to settle at 205,831.38 points, bringing the year-to-date return to 32.27 per cent and reinforcing investor confidence in the market’s upward trajectory.

The rally was largely supported by strong performances from major stocks including Ecobank Transnational Incorporated and Stanbic IBTC Holdings, alongside gains in NGX Group, Cornerstone Insurance, and MeCure Industries.

Market breadth remained positive, with 40 gainers outpacing 21 decliners, reflecting broad-based optimism across the trading floor.

However, losses were recorded in some equities, including FTN Cocoa Processors, McNichols, Academy Press, International Energy Insurance, and Guinea Insurance, highlighting pockets of profit-taking.

Sectoral performance was largely upbeat, with the Oil & Gas index leading gains at 4.26 per cent, followed by the Commodity sector at 2.65 per cent. Banking stocks also advanced by 1.97 per cent, while Industrial Goods, Insurance, and Consumer Goods indices all closed in positive territory.

Trading activity showed a mixed picture. Volume surged by 21.12 per cent to 569.31 million units, but the number of deals fell by 24.70 per cent to 45,777, while total value slipped slightly to ₦32.25 billion.

Analysts noted that the figures point to concentrated trading activity in a handful of high-volume blue-chip stocks, even as broader market participation weakened in terms of deal count.