LAGOS, Nigeria – The Nigerian Exchange (NGX) witnessed a significant bullish run on Wednesday, October 22, 2025, with the benchmark index closing sharply higher and pushing the total market capitalization closer to the N100 trillion psychological mark.
The NGX All-Share Index (ASI) surged by 1.50%, gaining 2,271.88 points to close at 153,736.25. This impressive rally propelled the total equity market capitalization to N97.58 trillion, reflecting a N1.44 trillion gain for investors.
The day’s positive sentiment was largely driven by strong buying interest in key stocks. ZASO led the pack of gainers, appreciating by the maximum 10.00% to close at N55.00. SAHCO followed closely with a 9.99% gain to end the day at N99.05, while other notable advancers included a stock closing at N7.95 (up 8.16%), another at N110.00 (up 6.80%), and one at N39.00 (up 6.50%).
In contrast to the equity market’s robust performance, the fixed income market saw minimal movement. The Fixed Income Market Cap inched up by a marginal 0.11% to settle at N51.37 trillion. Meanwhile, the Exchange Traded Products (ETPs) segment also posted a positive, albeit smaller, gain of 0.75%, bringing its total market cap to N31.45 billion.
The sustained upward trajectory of the equity market underscores growing investor confidence. Market analysts point to a combination of factors, including positive corporate earnings and a favourable macroeconomic outlook, as key drivers behind the rally.
As the market continues its ascent, all eyes are on the N100 trillion market cap threshold, a historic milestone that appears increasingly within reach.
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