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 at 2.3%, and First Holdco 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, Thomas Wyatt Nigeria, 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.