The Nigerian Exchange Limited (NGX) experienced a historic leap on Thursday, July 10, as investors amassed a record ₦1.806 trillion in a single day, following a substantial surge in the All-Share Index (ASI).
The ASI soared by 2,457.13 points or 2.01 per cent, closing at 124,446.80, up from 121,989.67 the previous day.
This marks the first time in history the index has crossed the 124,000 mark, underscoring rising investor confidence amid improving liquidity and economic reform optimism.
The market capitalisation also climbed by 2.35 per cent, settling at ₦78.726 trillion, compared to ₦76.970 trillion recorded on Wednesday.
Analysts attributed the surge to growing investor confidence in Nigeria’s equities market, supported by positive policy signals and improved economic outlook.
The trading session closed with a strong positive breadth, as 70 stocks gained, while only 10 recorded losses.
The Gainers
Leading the gainers’ chart were FTN Cocoa, UPDC, United Bank for Africa (UBA), Consolidated Hallmark Holdings, and Haldane McCall, all appreciating by 10 per cent.
- FTN Cocoa: ₦6.82
- UPDC: ₦4.62
- UBA: ₦39.60
- Consolidated Hallmark: ₦3.30
- Haldane McCall: ₦4.73
Losers fall behind despite market rally
On the flip side, Neimeth International Pharmaceutical declined by 9.91 per cent to close at ₦9.00, followed by Legend Internet, which lost 9.88 per cent to close at ₦7.21.
Industrial and Medical Gases fell by 7.36 per cent to ₦34.00, Cadbury Nigeria dropped 6.22 per cent to ₦55.00, and Livestock Feeds closed at ₦9.15 after shedding 5.67 per cent.
The market activity saw a major boost, with 1.3 billion shares worth ₦27.73 billion exchanged in 27,875 transactions, significantly higher than the 888.70 million shares valued at ₦15.609 billion traded across 24,303 deals on Wednesday.
Top traded equities included:
- Access Corporation: 174.22 million shares worth ₦3.99 billion
- AIICO Insurance: 81.96 million shares worth ₦165 million
- Ja Paul Gold: 74.01 million shares valued at ₦245.2 million
- UBA: 64.51 million shares worth ₦2.52 billion
- First City Monument Bank (FCMB): 63.3 million shares valued at ₦585.75 million
The stock market continues to post strong year-to-date gains, reflecting renewed confidence in the economy and the appeal of equities amid ongoing reforms.
