The bullish momentum on the Nigerian Exchange Limited continued on Monday as the benchmark All-Share Index crossed the historic 250,000-point mark, with investors recording a combined gain of N3.17tn amid sustained demand for blue-chip and mid-cap stocks.
Official trading data from the exchange showed that the All-Share Index climbed by 2.33 per cent to close at 250,485.54 points, compared with 244,774.40 points recorded in the previous session. This pushed the market’s year-to-date return to 60.97 per cent, underscoring the strength of the ongoing rally in the domestic equities market.
The surge in stock prices also lifted the market capitalisation of listed equities from N157.09tn to N160.26tn, while the total market capitalisation stood at N215.89tn at the close of trading. The latest performance marks one of the most significant single-day gains recorded by the market in recent months.
Analysts attributed the rally to sustained buying interest in key sectors of the market, particularly banking, telecommunications, consumer goods and industrial stocks. Market watchers noted that investors continue to shift funds into equities as they seek stronger returns in an environment where inflationary pressures and exchange rate volatility are shaping investment decisions.
The day’s rally was led by strong demand for stocks such as RT Briscoe Plc, FTN Cocoa Processors Plc and Livestock Feeds Plc, while major counters in the banking and telecom sectors also recorded significant transactions.
Trading activity strengthened during the session, reflecting increased investor participation. Total volume traded rose by 30.82 per cent to 1.51 billion shares, while the value of transactions climbed 17.23 per cent to N70.10bn across 95,093 deals.
Market breadth improved significantly, with 56 gainers against 21 losers, indicating widespread positive sentiment across the exchange. This suggests that the rally was not limited to a few heavyweight stocks but was supported by broader participation across multiple sectors.
The most active stocks by value traded included MTN Nigeria, First HoldCo Plc, Dangote Cement Plc, Zenith Bank Plc and Guaranty Trust Holding Company Plc, which collectively accounted for a substantial portion of the day’s turnover.
Year-to-date turnover in the equities market also rose to N3.37tn, while average daily traded value increased to N38.74bn, pointing to robust liquidity and sustained confidence among investors.
Commenting on the market trend, David Adonri said the continued rally reflects growing investor confidence in the resilience of listed firms and expectations of stronger corporate earnings in the months ahead.
According to him, the market is benefiting from improved domestic liquidity, stronger institutional participation and renewed interest from retail investors who are increasingly viewing equities as a hedge against inflation.
He added that positive corporate fundamentals and earnings expectations have continued to encourage investors to accumulate quality stocks, a trend that may sustain the market’s upward trajectory in the near term if macroeconomic conditions remain supportive.
