The Nigerian equities market recorded a meaningful shift in trading dynamics as the benchmark All-Share Index closed above 171,000 points for the first time in history. The index rose by 1,722.1 points to finish at 171,727.5, driven by heightened investor participation and concentrated buying pressure across key large-cap stocks. This move reflects renewed bullish sentiment after sustained market activity in recent sessions.
Trading momentum expanded noticeably, with total market volume increasing to 953 million shares from 712.9 million on the prior day. Market participants responded to improving market breadth and robust price advances, reinforcing confidence in the broader asset class.
Market capitalization also advanced to an estimated N110.2 trillion, up from N109.1 trillion at the previous close. The uptick in overall market valuation underscores stronger demand for listed equities and reflects broad institutional interest in blue-chip names.
On trading floors, Presco led the session by value, accounting for N11.2 billion of transactions on Customs Street. This dominance in value traded signaled targeted positioning in agric-sector equities and highlighted Presco’s continued appeal to large investors.
In terms of volume leadership, several major counters drew significant turnover. Financial stocks such as Fidelity Bank led by share count, followed by CHAMS and DeaP Capital Management. Other notable volume contributors included Access Holdings and Tantalizer, reflecting diverse investor interest across sectors.
Price action also showed breadth across sectors. On the gainers’ table, select mid-caps delivered double-figure percentage rises. Stocks such as NAHCO, DeaP Cap, Omatek, Zichis, and Austinlaz posted notable advances, reinforcing the positive market momentum.
Conversely, several counters experienced depreciation. Stocks including TIP, DAARCOMM, UCAP, WAPIC, and FirstHoldCo recorded share price declines, indicating that profit-taking activity coexisted with broader market advances.
Among larger capitalization groups, the stocks worth over N1 trillion continued to outperform. Aradel, Dangote Cement, Transcorp Hotel, MTN, and Lafarge registered gains, further supporting the market’s upward trajectory. These stocks’ performance contributed materially to the index’s climb above the 171,000 level.
Within other benchmark categories, several financial and exchange groups showed mixed results. For example, Zenith Bank and GTCO posted modest gains, while select counters within the FUGAZ cohort showed varied performance.
Overall, the market’s break above the 171,000 threshold represents a key psychological milestone in the current cycle. It reflects both growing investor confidence and an improved risk appetite. The market’s year-to-date rise to this level also suggests that positive macroeconomic cues and earnings expectations are being priced in by participants.
Going forward, continued strength in large-cap equities may sustain upward momentum, provided trading activity remains robust and institutional demand persists. Market observers will monitor volatility patterns and breadth indicators as the next significant checkpoints approach.
