The Nigerian Exchange (NGX) achieved a historic milestone on Monday as its All-Share Index (ASI) surged past the 201,000-point threshold for the first time, driving a significant increase in overall market value.
The benchmark ASI rose by 1.55 percent to close at 201,474.89 points, up from 198,407.30 points in the prior session. This gain translated to an increase of approximately N1.97 trillion in the total market capitalization of listed equities, which rose to N129.329 trillion from N127.360 trillion.
The positive performance reflected sustained bullish sentiment, with 38 stocks advancing against 30 decliners. The month-to-date return strengthened to 4.48 percent, while the year-to-date return improved to 29.47 percent, underscoring a robust equities market rally.
BUA Cement led the gainers with a 10 percent increase to close at N297 per share. It was followed by Premier Paints, John Holt, Guinea Insurance, and Fortis Global Insurance. On the decliners’ side, VFD Group fell by 10 percent to N11.25, alongside Royal Exchange, Omatek Ventures, Sovereign Trust Insurance, and Regency Alliance.
Trading activity was vigorous, with total deals reaching 72,735. A volume of 948.2 million shares, valued at N49.17 billion, was exchanged. Financial services stocks dominated trading volume, with Sovereign Trust Insurance recording the highest volume of 72.56 million shares. Zenith Bank accounted for the highest traded value at N5.96 billion.
The ASI’s breach of the 201,000-point mark represents a significant psychological and technical level for the NGX, highlighting strong investor confidence and heightened demand for Nigerian equities across key sectors. This performance continues a positive trend for the exchange, reinforcing its position as a key barometer for the Nigerian economy.
