NGX surges as investors gain ₦3.19tn

By Philippine Duru

philippineobetoduru@gmail.com

08034905774

The Nigerian equities market recorded a robust performance on Monday as sustained buying interest across major stocks lifted the benchmark index by more than two per cent, adding ₦3.19 trillion to investors’ wealth.

At the close of trading on the Nigerian Exchange Limited, the All-Share Index (ASI) advanced by 2.17 per cent, gaining 4,968.11 points to close at 234,208.45, compared with the previous session’s close.

The strong rally also pushed the market capitalisation of listed equities higher by ₦3.19 trillion, rising to ₦150.29 trillion, reflecting renewed investor confidence in the domestic stock market.

The impressive performance was driven by broad-based buying across several sectors, with investors increasing their positions in fundamentally strong stocks amid expectations of improved corporate earnings and continued resilience in the Nigerian economy.

Market analysts attributed the bullish sentiment to renewed confidence among both institutional and retail investors, who continue to take advantage of attractive valuations in the equities market despite prevailing macroeconomic challenges.

According to analysts, the market’s positive momentum reflects sustained demand for blue-chip and fundamentally sound companies, with investors positioning ahead of upcoming corporate earnings releases and interim dividend declarations.

The latest rally further reinforces the Nigerian Exchange’s status as one of Africa’s best-performing stock markets this year, supported by strong earnings growth, ongoing banking sector recapitalisation, improved investor participation, and increased liquidity.

Analysts also noted that recent economic reforms, improved investor sentiment, and expectations of stronger financial performance by listed companies have continued to attract capital into the equities market.

The significant increase in market capitalisation translates into substantial gains for shareholders, with investors collectively earning ₦3.19 trillion in a single trading session.

Despite global economic uncertainties, market operators believe the Nigerian stock market remains attractive to both domestic and foreign investors seeking higher returns, particularly as fixed-income yields begin to stabilise.

They, however, advised investors to remain focused on companies with strong fundamentals, sound corporate governance, and sustainable earnings growth, noting that market volatility remains a feature of equity investing.

Looking ahead, analysts expect the market to maintain its positive trajectory if buying interest persists, supported by favourable corporate earnings, improving macroeconomic indicators, and continued confidence in ongoing economic reforms.

The day’s performance highlights the resilience of the Nigerian capital market and underscores investors’ growing appetite for equities as they seek opportunities for long-term wealth creation in one of Africa’s largest financial markets.