The Nigerian Exchange (NGX) surged past the N100 trillion market capitalisation milestone for the first time in its history, opening the year on a buoyant note with renewed investor interest and broad-based gains lifted equities across the board.
Market data showed that the total equities market value rose from N99.94 trillion on January 2 to N101.81 trillion by January 5, representing N1.87 trillion gains in just two trading sessions.
In dollar terms, the bourse advanced from $69.61 billion to $71.15 billion, highlighting the momentum of the early-year rally.
The benchmark all-share index climbed 1.74 per cent in the latest session, bringing both this year’s returns to 2.32 per cent. The uptrend was driven by strong buying interest in companies such as Cadbury Nigeria, Fidson Healthcare and Champion Breweries, reflecting the traditional January effect that often supports early-year market performance.
Investor sentiment was further boosted as market breadth widened to 9.13x, with 73 equities closing higher against just eight decliners, signalling broad participation in the rally.
Analysis of market activities revealed that 14 firms control nearly half of the NGX’s N100 trillion capitalisation.
Collectively, the combined market capitalisation of the companies was valued at N48.35 trillion as of the close of trading on January 5.
The companies are BUA Cement and BUA Foods, which hold a combined market value of N20.6 trillion.
Dangote Cement, Dangote Sugar Refinery and NASCON, which Aliko Dangote controls, contribute N11.3 trillion to the bourse.
Tony Elumelu’s controlled United Bank for Africa, Transcorp, Transcorp Power, United Capital, African Prudential and Transcorp Hotels account for N6.8 trillion.
Seplat Petroleum recorded a market capitalisation of N3.37 trillion as at yesterday, while GTCo Holdings and Zenith Bank added N3.53 trillion and N2.75 trillion, respectively.
Commenting on the milestone, the Group Managing Director and Chief Executive Officer of Nigerian Exchange Group, Temi Popoola, described the achievement as a defining moment for the capital market, noting that it signals renewed confidence as the year begins.
He said the achievement reflects the market’s growing depth, resilience and responsiveness to improving macroeconomic conditions and ongoing structural reforms.
He added that sustained collaboration among market operators, policymakers and the Securities and Exchange Commission has enhanced transparency, liquidity and investor protection, reinforcing the Exchange’s role in mobilising long-term capital for economic growth.
Chief Executive Officer of Nigerian Exchange Limited, Jude Chiemeka, said the rally was underpinned by improving participation and selective demand across key sectors of the market. He noted that strong activity in banking, industrial and consumer goods stocks, alongside rising trading volumes, points to increasing investor confidence and a more active market at the start of the year.
Trading activity during the session was mixed, with total volume traded rising by 58.13 per cent to 695.64 million shares, while transaction value declined by 25.57 per cent to N18.57 billion across 56,606 deals. Year-to-date equities turnover rose to N43.52 billion.
Zenith Bank led trading by value at N3.51 billion, followed by WAPCO at N2.56 billion and Aradel Holdings at N1.57 billion, while Access Holdings and GTCO also ranked among the most actively traded stocks.
In the broader market, fixed income market capitalisation remained unchanged at N51.48 trillion, while the exchange-traded funds segment recorded growth, with market capitalisation rising to N50.45 billion, highlighting increasing investor interest across asset classes.
