With the NGX All-Share Index (ASI) surpassing 200,000 points yesterday, Nigeria’s stock market achieved a significant milestone thanks to robust investor demand and widespread increases across important industries. The benchmark index closed at 201,474.89 points, up 1.55% from 198,407.30 points during the prior trading session. Strong market momentum is demonstrated by the ASI’s month-to-date (MTD) return of 4.48% and its year-to-date (YTD) return of 29.47%. Due to advances in large-cap equities, the market capitalization increased to N129.33 trillion from N127.36 trillion.Temi Popoola, Group Managing Director and CEO of Nigerian Exchange Group, characterized the achievement as an indication of increasing trust in Nigeria’s capital market. “The market is responding favorably to Nigeria’s ongoing reforms, which are strengthening domestic capital formation. Increased local investor participation, improved corporate fundamentals, and ongoing market modernization are reinforcing the role of the capital market as a catalyst for long-term wealth creation and sustainable economic growth,” he stated. As investors traded 948.1 million shares worth N49.15 billion, trading activity continued to be strong, with a total of 72,700 deals. Due to increased investor interest in the industry, financial services stocks accounted for the majority of transactions by volume. Nigerian Exchange Limited CEO Jude Chiemeka credited the milestone to persistent demand and vigorous market participation.Reaching the 200,000-point threshold indicates robust investor participation and steady demand in important industries. “To support a robust and transparent marketplace, we at Nigerian Exchange Limited remain focused on deepening market liquidity, improving trading infrastructure, and ensuring efficient price discovery,” he stated. BUA Cement Plc, Premier Paints Plc, John Holt Plc, Guinea Insurance Plc, and FTN Cocoa Processors Plc were among the session’s top winners; VFD Group Plc, Royal Exchange Plc, Omatek Ventures Plc, Sovereign Trust Insurance Plc, and Regency Alliance Insurance Plc were among the session’s decliners. The most recent achievement demonstrates the steady growth of Nigeria’s stock market, which continues to draw increasing interest from institutional and local investors.
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