Nigerian Stock Market Surpasses N160 Trillion Milestone

The Nigerian stock market opened positively, with a market capitalization surpassing N160 trillion, closing at N160.422 trillion, up from N158.513 trillion. This increase was largely attributed to Airtel Africa Plc, whose stock price rose by 8.59%, positioning its market capitalization at N23.7 trillion, making it the most capitalized stock on the Nigerian Exchange Limited (NGX) as of August 10, 2026.

The NGX All-Share Index (ASI) appreciated by 2,956.15 basis points, or 1.20%, closing at 248,529.75 basis points. Year-to-date returns improved to 59.71% from 57.81%.

Despite the positive market movement, investor sentiment was negative, with 36 decliners outpacing 23 advancers. Fortis Global Insurance recorded the highest gain of 10%, while AVA Capital led the losers with a 10% decline.

The total trading volume fell by 25.11% to 1.137 billion units, valued at N27.017 billion, across 59,185 deals. Cowry Assets Management Limited anticipates a continued bullish trend in the market.