NGX Sustains Bullish Run, Market Capitalisation Nears N93 Trillion

Lagos, Nigeria – The Nigerian Exchange (NGX) extended its positive performance for the second consecutive day, closing Wednesday’s trading session in the green as investor sentiment remained broadly positive.

The benchmark All-Share Index (ASI) appreciated by 0.50%, gaining 725.39 points to close at 145,719.09. This upward movement propelled the total market capitalisation of listed equities to N92.49 trillion, a gain of N460 billion from the previous session.

The positive trend was mirrored across other key segments of the market. The Fixed Income market cap saw a modest increase of 0.24% to N51.25 trillion, while the Exchange Traded Products (ETPs) market was the standout performer, surging by 3.43% to close with a market cap of N31.92 billion.

Market Movers

The market breadth was positive, with gains recorded across several major stocks. The top gainers for the day were a mix of financial services and industrial goods companies:

• CUTIX PLC led the pack, rising by 8.89% to close at N6.00 per share.
• JULIUS BERGER followed closely, gaining 7.43% to end the day at N7.95.
• DANGOTE CEMENT, a market heavyweight, advanced by 6.96% to N41.50, contributing significantly to the ASI’s gain.
• UNITY BANK increased by 4.94% to N1.70.
• FIDSON HEALTHCARE rounded out the top five, appreciating by 4.74% to N21.00.

Market analysts attribute the sustained bullish run to renewed investor confidence and strategic positioning in fundamentally sound stocks. The performance of Dangote Cement, in particular, is seen as a major driver of the day’s gains.

Investors and the public can access real-time market updates directly on their mobile devices by dialing *5474#. For more detailed information, visit www.ngxgroup.com.

Trading resumed today as the market continues to react to both local economic developments and global market trends.