Nigerian Stock Market Surges to Record High as Investors Pocket N1.18 Trillion

The Nigerian stock market closed on a bullish note Tuesday as the Nigerian Exchange (NGX) hit a new record high, buoyed by a rally in blue-chip stocks. Investors gained approximately N1.18 trillion following a surge in demand for heavyweight tickers.

The all-share index rose by 1.63% to 116,786.87 points, while the market capitalization reached N73.68 trillion. The strong performance also pushed the year-to-date return to 13.47%.

According to market analysts, the uptick marked a significant reversal of recent bearish trends. The renewed buying interest spanned across key sectors, with tech, energy, and banking stocks leading gains.

Investors showed sustained appetite for MTNN, which climbed 4.79%, while energy stocks such as SEPLAT (+9.78%), TRANSPOWER (+8.22%), and ARADEL (+7.36%) recorded sharp advances.

Banking stocks also bounced back, following clarifications around forbearance loans and Single Obligor Limit (SOL) policies. “CardinalStone Securities Limited said in a note that these updates eased initial market concerns.”

GTCO rose 4.43%, maintaining its upward momentum. ZENITHBANK added 5.32%, UBA gained 5.59%, and ACCESSCORP appreciated by 4.49%, contributing to the broader market rally.

As a result of this widespread optimism, the market index crossed the 117,000-point mark, while total market capitalization advanced to N73.91 trillion—an increase of N1.42 trillion.

Trading volume declined by 18.70%, but the total transaction value grew by 1.34%. Atlass Portfolios Limited reported that about 640.08 million shares worth N26.01 billion were exchanged in 19,727 deals.

ZENITHBANK led the volume chart with 23.44% of total trades, followed by ACCESSCORP (7.60%), UBA (6.72%), Nigerian Breweries (5.90%), and FIDELITYBK (4.82%). It also topped the value chart, accounting for 27.70% of all traded value.

Among the day’s top gainers, NEM appreciated by 10.00%, followed by BETAGLAS (+9.99%), SEPLAT (+9.78%), THOMASWY (+9.73%), LINKASSURE (+9.56%), and REGALINS (+8.62%). Thirty-one stocks posted gains overall.

On the flip side, 29 stocks declined. ETERNA led the laggards with a 10.00% drop, trailed by LEGENDINT (-9.66%), IKEJAHOTEL (-3.78%), HONYFLOUR (-2.33%), CHAMPION (-1.44%), and WAPCO (-1.09%).

Market breadth remained positive with 37 gainers against 29 losers. Sector indices also closed bullish, with Oil & Gas (+7.49%), Commodity (+5.63%), Banking (+3.25%), and Insurance (+2.02%) leading sector-wide gains.