The Nigerian Stock Exchange, operating under the Nigerian Exchange Group (NGX) Limited, achieved a historic milestone as investors gained an unprecedented N1.806 trillion in a single day. This remarkable surge reflects renewed investor confidence in Nigeria’s equities market, driven by improved liquidity conditions and the positive sentiment surrounding ongoing economic reforms.
The market’s performance was marked by a significant rise in the All-Share Index, which climbed by 2,457.13 points or 2.01 percent, closing at 124,446.80. This is the first time the index has surpassed the 124,000-point mark, up from its previous close of 121,989.67. Market capitalization also witnessed substantial growth, increasing by 2.35 percent to settle at N78.726 trillion, compared to N76.970 trillion the previous day.
Investor enthusiasm was evident across the market, with the majority of stocks closing in positive territory. The surge in buying activity signals widespread optimism about the stability of the economy and the resilience of key sectors, particularly banking, consumer goods, and industrials. Although a handful of stocks experienced declines, the overwhelming market sentiment remained positive, further cementing the day’s historic gains.
Trading activity reached new heights, reflecting heightened investor participation. A total of 1.3 billion shares, valued at N27.73 billion, were exchanged across 27,875 transactions. This represented a notable increase from the previous day’s trading, which saw 888.7 million shares worth N15.61 billion change hands in 24,303 transactions. Strong demand for stocks such as Access Corporation, AIICO Insurance, Ja Paul Gold, United Bank for Africa, and First City Monument Bank underpinned the surge in market turnover.
The extraordinary performance of the Nigerian stock market underscores the growing confidence in the country’s financial landscape, as investors respond positively to macroeconomic adjustments, foreign exchange stabilization efforts, and other policy measures aimed at stimulating growth. While this rally is a welcome development, analysts continue to advise caution, highlighting the importance of monitoring global economic trends, inflationary pressures, and local market dynamics that could influence future performance.
As Nigeria’s economy navigates its recovery path, the Nigerian Exchange remains a key barometer of investor sentiment and a vital platform for capital formation. The record-breaking market gains offer a promising outlook, though sustained stability will depend on the consistency of reforms and broader economic resilience.
