Nigerian Stock Market Hits 201,000 Index Milestone

The Nigerian stock market reached a significant milestone as the NGX All-Share Index (ASI) crossed the 201,000 point mark for the first time, closing at 201,474.89 points, a rise of 1.55% from the previous session's 198,407.30 points. The market capitalization increased by N1.97 trillion, from N127.36 trillion to N129.33 trillion, driven by strong investor demand and widespread gains across various sectors.

The month-to-date return climbed to 4.48%, with a year-to-date return of 29.47%, indicating sustained bullish momentum. A total of 38 stocks closed higher compared to 30 that declined, with BUA Cement leading the gainers at 10%, followed by Premier Paint and John Holt.

Conversely, VFD Group led the losers with a 10% drop. Trading activity remained robust, with 72,735 deals executed, totaling 948.2 million shares valued at N49.17 billion.

Mr. Temi Popoola, Group Chief Executive Officer of Nigerian Exchange Group, highlighted this milestone as a sign of growing confidence in Nigeria's capital market.