The Nigerian Exchange Limited (NGX) began the week with market capitalisation surpassing N160 trillion, closing at N160.256 trillion following a N3.16 trillion gain. The NGX All-Share Index rose by 5,709.71 basis points, or 2.33 per cent, to 250,485.54 basis points, driven by investor demand for large and mid-cap stocks. Dangote Cement Plc led the gainers with an 8.5 per cent rise, alongside MTN Nigeria Communications, NASCON Allied Industries, Nigerian Aviation Handling Company Plc, and BUA Cement. A total of 58 stocks advanced while 21 declined, with positive market breadth indicating stronger investor sentiment.
Chams Holding Company, FTN Cocoa Processors, International Energy Insurance, Livestock Feeds, and R.T. Briscoe each gained 10 per cent, closing at N3.41, N9.13, N2.86, N8.80, and N16.50 per share respectively. MeCure Industries and Berger Paints rose by 9.99 per cent to close at N79.85 and N119.45 per share, while Zichis Agro Allied Industry increased by 9.98 per cent to close at N36.69 per share. On the decline side, Prestige Assurance fell 10 per cent to close at N1.44 per share. Sovereign Trust Insurance dropped 9.96 per cent to N2.26 per share, University Press lost 9.09 per cent to close at N4.00, Ellah Lakes declined 9.05 per cent to N10.05, and Tantalizer fell 7.69 per cent to N4.20 per share.
Trading volume reached 1.486 billion units valued at N68.455 billion across 94,834 deals. Veritas Kapital Assurance recorded the highest volume with 194.545 million shares worth N299.075 million. Access Holdings traded 172.077 million shares valued at N4.179 billion, First Holdco exchanged 131.974 million shares worth N9.796 billion, FCMB Group transacted 123.892 million shares valued at N1.415 billion, and Champion Breweries handled 82.991 million shares worth N1.251 billion. Imperial Asset Managers Limited projected a constructive market outlook, citing the ongoing Q1 2026 earnings season and dividend flows as support, with preference for Banking and Industrial Goods sectors.
The surge in market capitalisation to over N160 trillion hinges on a handful of stocks like Dangote Cement and MTNN, exposing concentration risk in the NGX. If earnings from these key firms falter, the entire market rally could unravel quickly. Investors relying on current gains may face sharp reversals if dividend flows slow. The narrow base of outperforming stocks suggests vulnerability beneath the headline numbers.
Editorial note: AI-assisted opinion, not established fact. Full disclaimer →
