NGX smashes ₦100 trillion barrier as Stocks ignite powerful rally

By Taiye Olayemi

Nigeria’s stock market began the week on a strong footing, with investor optimism pushing total market capitalisation to a historic ₦101.806 trillion and adding about ₦1.87 trillion to portfolios across the board.

Data from the Nigerian Exchange Ltd. showed that the rally was fuelled by sustained demand for heavyweight and mid-cap stocks, including Cadbury, Abbey Mortgage Bank, Fidson, Champion Breweries and FTN Cocoa Processors, alongside gains in more than 60 other equities.

Market capitalisation rose from ₦99.937 trillion at the start of trading to ₦101.806 trillion at the close of the session, while the All-Share Index (ASI) advanced by 1.74 per cent, gaining 2,725.86 points to settle at 159,218.22, compared with 156,492.36 recorded previously.

The breadth of the market underscored the positive sentiment, with 73 stocks closing in the green against just eight losers. Cadbury, Abbey Mortgage Bank, Fidson, Champion Breweries and FTN Cocoa Processors topped the gainers’ table, each appreciating by 10 per cent to close at ₦64.90, ₦6.60, ₦60.50, ₦15.40 and ₦6.05 per share respectively.

On the downside, Juli led the laggards, shedding 9.93 per cent to close at ₦7.26, while Ikeja Hotel declined by 9.91 per cent to ₦40.45. Sunu Assurances also fell by 4.55 per cent to ₦5.25, with Sovereign Trust Insurance and Berger Paints recording moderate losses.

Trading activity was mixed, as volume surged by 58.13 per cent to 695.64 million shares, while the value of transactions declined by 25.57 per cent to ₦18.57 billion across 56,632 deals. Tantalizer emerged as the most actively traded stock by volume, accounting for 10.31 per cent of total shares exchanged, while Zenith Bank led in value traded at ₦3.51 billion.

Commenting on the milestone, Temi Popoola, Group Managing Director of Nigerian Exchange Group, said crossing the ₦100 trillion mark signalled renewed confidence in the capital market.

“The equities market capitalisation crossing ₦100 trillion is a defining milestone and a clear signal of growing investor confidence as the year begins,” he said, citing improving macroeconomic conditions and structural reforms.

Similarly, Jude Chiemeka, Chief Executive Officer of Nigerian Exchange Ltd., attributed the rally to broader participation across key sectors, noting that rising volumes and selective demand pointed to a more active and confident market at the start of the year.