The Nigerian Exchange Limited (NGX) has reached another historic milestone, with the market capitalisation of listed equities climbing above ₦159 trillion, underscoring sustained investor confidence and a strong rally in the country’s stock market.
The latest surge follows weeks of bullish trading driven by increased demand for banking, consumer goods, industrial and oil and gas stocks. Market analysts attribute the performance to improving corporate earnings, ongoing economic reforms, banking sector recapitalisation and renewed participation by both domestic and foreign investors.
Data from the NGX show that the market capitalisation rose to approximately ₦159.6 trillion, while the benchmark All-Share Index (ASI) also advanced to a record high of 247,357.40 points, reflecting broad-based gains across key sectors of the economy.
Market operators said the sustained rally has been supported by strong institutional buying, positive investor sentiment and expectations of improved corporate performance following recent macroeconomic reforms.
According to analysts, the continued appreciation in equity prices signals growing confidence in Nigeria’s capital market despite persistent economic challenges, including inflationary pressures and foreign exchange volatility. They noted that investors have increasingly turned to equities in search of stronger returns amid evolving monetary and fiscal policies.
The banking sector has remained a major driver of the market’s upward momentum, buoyed by the ongoing recapitalisation exercise and robust earnings expectations. Stocks in the industrial, consumer goods and energy sectors have also contributed significantly to the market’s record performance.
Financial experts, however, cautioned that while the market outlook remains positive, investors should remain mindful of global economic uncertainties, interest rate movements and domestic policy developments that could influence market performance in the coming months.
The latest milestone reinforces the Nigerian Exchange’s position as one of Africa’s strongest-performing equity markets in 2026, with investors recording substantial gains as confidence in listed companies and the broader economy continues to improve.
