The Nigerian Exchange Limited (NGX) achieved a historic milestone as investors raked in a staggering N1,806 trillion in a single trading session. This significant gain came on the back of a sharp rise in the All-Share Index (ASI), which jumped by 2,457.13 points, or 2.01%, closing at 124,446.80, the first time it has crossed the 124,000 threshold. The index previously stood at 121,989.67.
Analysts attribute the markets's strong performance to renewed investor confidence, supported by enhanced liquidity and ongoing economic reforms.
Similarly, market capitalisation surged by 2.35% to N78.726 trillion, up from N76.970 trillion the previous day.
The session ended with a solidly positive market breadth, as 70 stocks advanced while only 10 declined.
Among the top gainers, FTN Cocoa and UPDC both rose 10% to close at N6.82 and N4.62 per share, respectively. UBA gained 10% to finish at N39.60 while Consolidated Hallmark Holding and Haldane MsCall also posted 10% increases, closing at N3.30 and N4.73, respectively.
On the losers' side, Neimeth International Pharmaceuticals dropped 9.91% to N9.00, and Legend Internet declined by 9.88% to N7.21. Industrial and Medical Gases fell by 7.36% to N34, while Cadbury Nigeria and Livestock Feeds lost 6.22% and 5.6%, closing at N55 and N9.15, respectively.
Trading activity was robust, with 1.3 billion shares worth N27.73 billion exchanged in 27,875 deals. This marks notable increase from the 888.70 million shares valued at N15.609 billion traded across 24,303 deals on Wednesday.
Access Corporation led in volume, trading 174, 22 million shares valued at N3.99 billion. AIICO Insurance followed with 81.96 million shares worth N165 million, while Ja Paul Gold posted 74.01 million shares valued at N245.2 million. UBA traded 64.51 million shares worth N2.52 billion, and First City Monument Bank recorded 63.3 million shares valued at N585.75 million.
