Nigeria’s equities market delivered a historic performance, with the benchmark index crossing the 200,000-point threshold for the first time, despite trading for only three days in the week.
The Nigerian Exchange (NGX) All-Share Index (ASI) rose by 1.39 percent to close at 201,156.86 points, up from 198,407.30 points recorded in the previous week.
Market capitalisation simultaneously increased to approximately N129.13 trillion, reflecting a net gain of about N1.77 trillion within the shortened trading window.
The trading week was cut short due to Eid-el-Fitr public holidays, limiting activity to Monday through Wednesday. Despite this constraint, bullish momentum persisted, signaling sustained investor confidence and strong liquidity in the market. Year-to-date returns remain elevated at roughly 30 percent, positioning the Nigerian market among the strongest-performing globally in 2026.
The rally has been driven by a combination of domestic institutional participation, renewed investor confidence, and continued demand across key sectors. Market activity showed high concentration in a few equities.
E-Tranzact International Plc, FCMB Group Plc, and Wema Bank Plc dominated trading volumes, jointly accounting for over 69 percent of total equity turnover volume during the week. In total, investors traded approximately 8.76 billion shares valued at N267.25 billion across 193,473 deals, a significant increase compared to the prior week’s turnover.
Sectoral performance remained broadly positive, although indices such as insurance, consumer goods, and oil and gas recorded marginal declines. The milestone reflects a structural shift in Nigeria’s capital market.
Analysts attribute the surge to ongoing economic reforms, inflation-hedging behavior among investors, and improved corporate earnings particularly within the banking and financial services sectors.
Crossing the 200,000 mark establishes a new valuation ceiling for the market and reinforces its role as a primary channel for capital formation, even as concerns persist around sustainability, valuation pressures, and macroeconomic risks.
Source: The Sun.ng
