The market capitalisation of the Nigerian Exchange (NGX) Limited hit a record N100 trillion on Monday.
According to data obtained from the NGX, the market capitalisation closed at N101.80 trillion.
The stock market recorded the highest daily rally with the All Share Index (ASI) rising by 1.74 per cent or 2725.86 basis points, from 156,492.36 ASI to 159,218.22 at the close of trading.
The market capitalisation increased from the N99.94 trillion recorded on January 2, representing a N1.87 trillion increase.
In dollar terms, the NGX said the market capitalisation increased from $69.61 billion to $71.15 billion.
The exchange said the growth in ASI pushed both month-to-date and year-to-date returns to 2.32 per cent.
“The rally was driven by strong buying interest in stocks such as Cadbury Nigeria, Fidson Healthcare, and Champion Breweries, reflecting the traditional “January Effect” that often characterises early-year market activity,” NGX said.
“Investor sentiment strengthened markedly, with market breadth improving to 9.13x as 73 equities recorded gains against eight decliners, signalling widespread participation in the rally.”
Group managing director and chief executive officer (CEO) of Nigerian Exchange Group, Temi Popoola, said the development reflects growing confidence in the Nigerian capital market.
“The equities market capitalisation crossing the ₦100 trillion mark is a defining milestone for Nigeria’s capital market and a clear signal of renewed investor confidence as the year begins,” Popoola said.
“It reflects the market’s growing depth, resilience, and ability to respond positively to improving macroeconomic conditions and structural reforms,” he added.
He further stated that sustained collaboration between market stakeholders, and regulators has helped strengthen market credibility.
“Over the past two years, closer alignment between market operators, policymakers, and the Securities and Exchange Commission (SEC) has enhanced transparency, liquidity, and investor protection, reinforcing the Exchange’s role in mobilising long-term capital for economic growth,” he said.
CEO of Nigerian Exchange Limited, Jude Chiemeka, noted that the rally was supported by improving participation and selective demand across key sectors.
“The breadth of the market tells a positive story,” Chiemeka said.
“We are seeing strong participation across banking, industrial, and consumer stocks, alongside rising trading volumes, which suggests growing investor confidence and a more active market at the start of the year.”
NGX said trading activity was mixed during the session.
According to the statement, total volume traded rose by 58.13 percent to 695.64 million shares, while the value of transactions declined by 25.57 percent to N18.57 billion across 56,606 deals.
The exchange added that year-to-date equities turnover increased to N43.52 billion.
“To open the week, Zenith Bank led trading by value at ₦3.51 billion, followed by WAPCO with ₦2.56 billion and Aradel Holdings at ₦1.57 billion, while Access Holdings and GTCO also featured among the most actively traded stocks,” the statement said.
The NGX said fixed income market capitalisation remained unchanged at N51.48 trillion, while the exchange-traded funds (ETF) segment recorded growth, with market capitalisation rising to N50.45 billion, underscoring increasing investor interest across asset classes.
