The Nigerian equities market continued its impressive run on Wednesday, setting a new record high as strong buying interest in large-cap stocks pushed the benchmark index further into uncharted territory.
The All-Share Index (ASI) gained 283.52 points, representing a 0.11% increase, to close at 252,695.19 points. This marks another significant milestone as the index consolidates its position well above the 250,000 psychological level.
Market capitalisation climbed by N64 billion to close at N162.06 trillion, reflecting sustained investor confidence and positive sentiment across the bourse. The year-to-date return now stands at over 60%, one of the strongest performances globally this year.
Key Drivers of the Rally
The upward movement was primarily led by heavyweights MTN Nigeria and BUA Cement, whose strong price appreciation provided major support to the index. Additional gains in stocks such as UACN, Berger Paints Nigeria, and Fidson Healthcare further broadened the rally across medium and large-cap segments.
Market breadth remained positive, with 39 stocks closing higher against 29 decliners. Four stocks Daar Communications, Fidson Healthcare, Livestock Feeds, and CWG topped the gainers’ chart with the maximum allowable daily gain of 10% each.
On the downside, NCR Nigeria and Cornerstone Insurance led the losers’ table, both shedding 10% of their share prices.
Trading Activity
Trading remained robust during the session, with investors exchanging approximately 1.56 billion shares worth N91.66 billion in over 76,000 deals.
Analysts note that while the market has shown remarkable resilience and strong domestic institutional participation, mild profit-taking may occur in subsequent sessions. Nevertheless, the current trend suggests continued confidence in fundamentally sound companies amid improving liquidity conditions.
The Nigerian Exchange (NGX) has now recorded multiple record highs in recent weeks, reinforcing its position as one of the best-performing stock markets in Africa in 2026.
