NGX: Equities surge as ASI sets new benchmark
…investors gain ₦546.12bn
The Nigerian Exchange (NGX) maintained its historic bullish momentum on Monday as investors confidence in financial services and the energy sector propelled the market to a significant new milestone.
By the close of trading, the benchmark All-Share Index (ASI) appreciated by 0.44%, adding 948.20 points to settle at 218,115.77.
This performance reinforces a remarkable year-to-date trajectory, with the market now boasting an overall gain of 40.17% since the beginning of the year.
This rally drove the total Market Capitalization to ₦140.37 trillion, representing a single-day gain of approximately ₦546.12 billion for investors.
Market activity remained robust, with a total turnover of 962.32 million shares exchanged across 75,409 deals, totaling a market value of ₦48.56 billion.
The surge was largely underpinned by a strong performance in the Banking Index, which rose by 2.56% on the day, further establishing the financial sector as the primary driver of current market liquidity.
Sectoral performance data shows that the NGX Oil & Gas Index also witnessed significant interest, gaining 0.75% during the session, while the Premium Index climbed by 1.07%.
Among individual equities, Access Holdings Plc (ACCESSCORP) emerged as the volume leader, with over 90.5 million shares traded, followed by significant activity in the shares of Zenith Bank and FBN Holdings.
Price movements were predominantly positive, led by top gainers such as Union Dicon Salt and Fidelity Bank, both of which neared the 10% maximum daily appreciation limit.
Analysts attribute this landmark performance to a combination of high domestic liquidity, sustained demand for high-yield dividend-paying stocks, and the relative stability of corporate earnings amid broader macroeconomic adjustments.
With the ASI consistently finding new support levels above the 215,000 mark, market sentiment remains overwhelmingly positive as institutional and retail investors continue to reposition their portfolios ahead of the mid-year reporting season.