The Nigerian Exchange (NGX) soared to a historic peak on Monday, as aggressive bargain hunting propelled equities investors to a staggering ₦5.11 trillion gain.
The market opened the week with a massive 4.37% surge in the All-Share Index (ASI), which closed at a record 190,281.57 points.
This performance, representing the fourth time the local bourse has recorded a single-day gain above 4% since late 2020, pushed the year-to-date return to an impressive 22.28%. Consequently, the total market capitalization of the exchange ascended to ₦122.14 trillion, supported by a bullish market breadth where 54 advancing stocks dominated 28 declining counters.
Industrial stocks led the sectoral charge with a 7.77% jump, while the Oil & Gas and Banking sectors followed closely with gains exceeding 4.7%. Trading activity also saw a significant spike, with transaction value rising nearly 20% to ₦62.99 billion across over 64,000 deals.
Leading the gainers’ chart were high-performing stocks such as ABCTRANS, ARADEL, and OANDO, reflecting a robust appetite for companies with solid fundamentals and significant upside potential in the current fiscal environment.