The Nigerian Exchange (NGX) started the year on a strong note as equities market capitalisation crossed the ₦100 trillion mark, driven by renewed investor demand and widespread gains across listed stocks.
Market data showed that equities market capitalisation rose from ₦99.94 trillion on January 2 to ₦101.81 trillion by January 5, marking a ₦1.87 trillion increase within two trading sessions. The All-Share Index (ASI) also gained 1.74 percent in the latest trading session, lifting both month-to-date and year-to-date returns to 2.32 percent. The rally was supported by strong buying interest in stocks such as Cadbury Nigeria, Fidson Healthcare, and Champion Breweries, reflecting the “January Effect” that often influences early-year market activity.
Investor sentiment improved significantly as market breadth rose to 9.13x, with 73 equities recording gains against eight decliners, showing broad participation in the rally.
Temi Popoola, Group Managing Director and Chief Executive Officer of Nigerian Exchange Group, described the achievement as a reflection of 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 that collaboration among market participants and regulators has strengthened the credibility of the exchange. “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.
Jude Chiemeka, Chief Executive Officer of Nigerian Exchange Limited, explained 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.”
Trading activity was mixed during the session, as total volume traded rose by 58.13 percent to 695.64 million shares, while the value of transactions declined by 25.57 percent to ₦18.57 billion across 56,606 deals. Year-to-date equities turnover increased to ₦43.52 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 ranked among the most actively traded stocks.
Meanwhile, the fixed income market capitalisation remained stable at ₦51.48 trillion, while the exchange-traded funds segment recorded growth, with market capitalisation rising to ₦50.45 billion, showing increasing investor interest across asset classes.
