Nigerian Exchange (NGX) all-share index (ASI) crossed the 200,000-point mark for the first time on Monday, extending the rally in the domestic stock market.
According to a market report obtained from the NGX,
all-share index rose 1.55 percent to close at 201,474.89 ASI, up from
198,407.30 points recorded during trading on March 13.
The report showed that the gain pushed the market’s
month-to-date return to 4.48 percent, while the year-to-date performance
climbed to 29.47 percent.
Also, market capitalisation increased to N129.33 trillion,
compared with N127.36 trillion recorded in the previous session.
Trading activity strengthened during the session, with
investors executing 72,700 deals.
A total of 948.1 million shares valued at N49.15 billion
changed hands on the exchange.
Stocks in the financial services sector accounted for the
largest share of trading volume during the session.
Commenting on the milestone, Temi Popoola, group managing
director (MD) and chief executive officer (CEO) of Nigerian Exchange Group,
said the development reflects growing activity in the market.
“Nigeria’s ongoing reforms are strengthening domestic
capital formation, and the market is responding positively,” Popoola said.
“Increased participation by local investors, improving
corporate fundamentals, and continued market modernisation are reinforcing the
role of the capital market.”
Jude Chiemeka, chief executive officer of the NGX, said the
development reflects sustained demand across sectors.
“Crossing the 200,000-point mark reflects strong investor
engagement and consistent demand across key sectors,” Chiemeka said.
Among the top gainers during the trading session were BUA
Cement Plc, Premier Paints Plc, John Holt Plc, Guinea Insurance Plc and FTN
Cocoa Processors Plc.
Stocks that recorded losses included VFD Group Plc, Royal
Exchange Plc, Omatek Ventures Plc, Sovereign Trust Insurance Plc and Regency
Alliance Insurance Plc.
The latest performance extends the rally in the Nigerian
equities market this year, with the benchmark index posting double-digit gains
since the start of the year.
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