NGX Market Cap Hits N97.58trn As Investors Earn N1.45trn
THECONSCIENCE NG reports that the Nigerian equities market sustained its positive momentum on Wednesday, buoyed by strong investor participation and renewed confidence ahead of corporate earnings releases.
The NGX All-Share Index advanced by 1.50 percent to close at 153,736.25 basis points, pushing the year-to-date gain to 49.35 percent. Market capitalization rose by N1.45 trillion to N97.58 trillion, reflecting upbeat sentiment across major sectors.
Market breadth also improved, with 32 gainers edging out 30 losers.
On the performance board, top gainers included ASO Savings, Skyway Aviation, UPDC Real Estate Investment Trust, NASCON Allied Industries, and Dangote Cement. Conversely, The Initiates, Legend Intercontinental, Royal Exchange, Champion Breweries, and Mansard Insurance led the laggards.
Sectoral performance was largely positive, led by Oil & Gas, which rose by 2.07 percent, followed by Commodities at 1.22 percent, Consumer Goods at 0.30 percent, and Industrial Goods at 0.16 percent. In contrast, the Insurance and Banking indices declined by 0.51 percent and 0.42 percent, respectively.
Market activity strengthened notably, as trading volume rose by 6.81 percent to 589.49 million shares, while the total value of transactions climbed by 16.91 percent to N24.01 billion. The number of deals also increased by 3.51 percent to 28,485, underscoring heightened investor engagement and larger trade sizes.
The sustained rally at the Nigerian Exchange reflects improved investor appetite for equities amid expectations of strong third-quarter results and continued economic policy support.
