NGX market cap hits N100trn

The market capitalisation of the Nigerian Exchange (NGX) crossed the ₦100 trillion threshold on Monday, underscoring renewed investor optimism in the equities market.

Data from the NGX showed that total market capitalisation closed at ₦101.80 trillion, up from ₦99.94 trillion recorded on January 2. This represents a gain of ₦1.87 trillion within the first trading days of the year.

In dollar terms, market capitalisation rose from $69.61 billion to $71.15 billion.

The bullish momentum was reflected in the All-Share Index (ASI), which climbed by 1.74 percent, gaining 2,725.86 points to close at 159,218.22 from 156,492.36. As a result, both month-to-date and year-to-date returns advanced to 2.32 percent.

According to the exchange, the rally was driven by strong demand for select stocks, including Cadbury Nigeria, Fidson Healthcare, and Champion Breweries. The NGX attributed the surge to the “January Effect,” a seasonal trend that often sees increased buying activity at the start of the year.

Investor sentiment strengthened significantly, with market breadth expanding to 9.13x. A total of 73 equities recorded price gains, while only eight declined, indicating broad-based participation in the rally.

Commenting on the milestone, Temi Popoola, group managing director and chief executive officer of Nigerian Exchange Group, described the development as a strong signal of growing confidence in the capital market.

He said the ₦100 trillion valuation highlights the market’s increasing depth and resilience, as well as its ability to respond positively to improving macroeconomic conditions and ongoing structural reforms.

Popoola added that closer collaboration among market operators, regulators, and policymakers over the past two years has enhanced transparency, liquidity, and investor protection, strengthening the exchange’s role in mobilising long-term capital for economic growth.

Providing further insight, Jude Chiemeka, chief executive officer of Nigerian Exchange Limited, said the rally was supported by improved participation and selective buying across major sectors.

He noted that strong activity in banking, industrial, and consumer stocks, alongside rising trading volumes, points to growing investor confidence and a more active market as the year begins.

Meanwhile, the NGX reported mixed trading activity during the session. Total trading volume rose by 58.13 percent to 695.64 million shares, while the value of transactions declined by 25.57 percent to ₦18.57 billion across 56,606 deals.

The exchange added that year-to-date equities turnover has increased to ₦43.52 billion.