NGX Market Capitalization Hits N163.05 Trillion Milestone

The market capitalization of listed companies on the Nigerian Exchange Limited (NGX) reached a record N163.05 trillion, marking a significant milestone as the stock market maintained positive momentum. This increase was fueled by investor demand for stocks such as MTN Nigeria Plc, which rose by 0.6%, Zenith Bank (NGX: ZENITHBANK) at 2.3%, and First Holdco (NGX: FIRSTHOLDCO) at 1.4%.

The NGX All-Share Index also increased by 0.23%, closing at 251,191.20 basis points, contributing to a year-to-date return of 61.42%. Sector performance varied, with the Insurance index up by 1.08%, Banking by 0.85%, Consumer Goods by 0.17%, and Oil and Gas by 0.06%.

However, the Industrial index fell by 0.15%. Market breadth was positive, with 43 stocks gaining and 20 declining.

Eterna (NGX: ETERNA), Thomas Wyatt Nigeria (NGX: THOMASWY), and others were among the top gainers, while Caverton led the decliners. Trading volume increased significantly, with 1.59 billion shares traded valued at N45.82 billion.