NGX Market Cap Crosses N163tn on Sustained Investors Confidence

The Nigerian Exchange Limited (NGX) market capitalization reached an unprecedented N163.05 trillion, marking a historic milestone. This surge was primarily driven by demand for shares in MTN Nigeria Plc, Zenith Bank, and First Holdco. The NGX All-Share Index climbed 0.23 per cent, closing at 251,191.20 basis points, contributing to a year-to-date return of 61.42 per cent.

While the Insurance, Banking, Consumer Goods, and Oil and Gas sectors recorded positive gains, the Industrial and Commodity sectors experienced minor declines. Market breadth remained robust, with more stocks gaining value than declining. Among the top gainers were Eterna, Thomas Wyatt Nigeria, Critical Mineral Financing Corporation, Haldane McCall, and Omatek, each witnessing significant share price increases.

Conversely, Caverton, UACN Property Development Company, WAPIC Insurance, Veritas Kapital Assurance, and United Capital led the decliners. Trading activity saw a substantial increase in shares traded, reaching 1.59 billion shares in 49,836 deals valued at N45.82 billion, reflecting a 89.97 per cent rise in volume from the previous session.

However, the transaction value slipped by 5.66 per cent, amounting to N48.57 billion. Fidelity Bank led in terms of shares traded, with 170.72 million shares exchanged, while several major companies recorded high trading volumes.