NGX Market Cap Reaches N160.4 Trillion as ASI Rises

On Monday, the Nigerian equities market demonstrated robust performance as the benchmark NGX All-Share Index (ASI) surged by 1.21% to reach a record high of 248,529.75 points. This increase in the ASI resulted in a total market capitalization rise of N1.91 trillion, bringing it to N160.42 trillion.

The year-to-date return for the market now stands at an impressive 59.71%. The ASI's closing value was significantly higher than the previous session's 245,573.60 points, with an intraday high matching the closing figure.

Despite this positive index performance, market breadth was negative, with 36 stocks declining compared to 23 gainers, indicating that the rally was driven by selected heavyweight stocks. Notable decliners included AVACAP and Ecobank Transnational Incorporated, while Fidson Healthcare and Airtel Africa saw gains.

Sector performance was mixed, with the Consumer Goods Index rising by 0.76%, while other sectors like Insurance and Banking experienced declines. Trading activity showed a 39% increase in deals executed, although total turnover fell by 25.11% to N27.02 billion.