Inventory rally lifts NGX ASI past 200,000 milestone

Nigeria’s inventory market hit a serious milestone on Monday, with the NGX All-Share Index crossing the 200,000-point mark, buoyed by sturdy investor demand and broad-based beneficial properties throughout key sectors.

The benchmark index rose 1.55% to shut at 201,474.89 factors, up from 198,407.30 factors within the earlier buying and selling session. This brings the month-to-date return of the ASI to 4.48% and the year-to-date return to 29.47%, reflecting sturdy market momentum.

Market capitalisation expanded to N129.33tn, up from N127.36tn beforehand, as large-cap shares led beneficial properties throughout the market.

Reacting to the milestone, the Group Managing Director and Chief Govt Officer of Nigerian Trade Group, Temi Popoola, described the expansion as an indication of rising confidence in Nigeria’s capital market.

“Nigeria’s ongoing reforms are strengthening home capital formation, and the market is responding positively. Elevated participation by native traders, bettering company fundamentals, and continued market modernisation are reinforcing the position of the capital market as a catalyst for long-term wealth creation and sustainable financial development,” he mentioned.

Buying and selling exercise remained strong, with whole offers rising to 72,700 whereas traders exchanged 948.1 million shares valued at N49.15bn. Monetary providers shares dominated transactions by quantity, reflecting heightened investor curiosity within the sector.

Equally, the Chief Govt Officer of Nigerian Trade Restricted, Jude Chiemeka, attributed the milestone to sustained demand and energetic participation throughout the market.

“Crossing the 200,000-point mark displays sturdy investor engagement and constant demand throughout key sectors. At Nigerian Trade Restricted, we stay targeted on deepening market liquidity, enhancing buying and selling infrastructure, and making certain environment friendly worth discovery to help a resilient and clear market,” he mentioned.

Among the many prime gainers for the session have been BUA Cement Plc, Premier Paints Plc, John Holt Plc, Guinea Insurance coverage Plc, and FTN Cocoa Processors Plc, whereas decliners included VFD Group Plc, Royal Trade Plc, Omatek Ventures Plc, Sovereign Belief Insurance coverage Plc, and Regency Alliance Insurance coverage Plc.

The most recent milestone highlights the sustained momentum in Nigeria’s equities market, which continues to draw rising curiosity from each home and institutional traders.