The Nigerian Exchange (NGX) closed Thursday’s trading session on a bullish note, with the All-Share Index (ASI) surging 783.7 points to reach a fresh record high of 146,988.1.
The gain of 0.54% marked the market’s 11th consecutive session of positive performance, largely powered by strong demand for Dangote Cement shares.
Investor confidence deepened as market capitalization climbed to ₦93.2 trillion, up from ₦92.7 trillion recorded previously.
The sustained rally reflected growing appetite for blue-chip stocks and renewed optimism around Nigeria’s equities market, which has now delivered a year-to-date gain of 42.81%.
Dangote Cement Lifts Market to New High
Dangote Cement led the charge with an impressive 6.48% rise to ₦575 per share, contributing significantly to the ASI’s record close.
The stock’s upward movement underscored its influence as the most capitalized company on the exchange and a key driver of overall market sentiment.
NEM Insurance also stood out, appreciating 5.23% to ₦29.15, while Jaiz Bank, FTN Cocoa, and CWG gained 4.65%, 3.57%, and 3.46% respectively.
Analysts attribute these movements to strong quarterly earnings expectations and portfolio rebalancing by institutional investors.
Decliners Weigh on Select Mid-Caps
On the downside, UHOMREIT and Meyer led the losers’ chart, shedding 9.98% to ₦51.85 and 9.85% to ₦15.10, respectively.
Other notable laggards included SterlingNG (-9.58%), Cornerstone Insurance (-6.90%), and eTranzact (-6.25%).
Despite the losses, the broader market maintained a positive breadth, buoyed by the strength of large-cap gainers that overshadowed weakness in smaller counters.
Strong Trading Volume and Value Activity
Market activity strengthened further, with trading volume increasing to 385 million shares from 346 million in the previous session.
Fidelity Bank dominated the volume chart with 47.3 million shares traded, followed by Chams Holding with 38.4 million, and Japaul Gold with 21.8 million shares.
In terms of trading value, Seplat Energy led with ₦1.28 billion, followed by Zenith Bank at ₦1.25 billion, and Dangote Cement with ₦1.1 billion.
Fidelity Bank and Aradel Holdings completed the top five with ₦959 million and ₦895.3 million respectively, signaling robust liquidity inflows across key sectors.
SWOOTs and FUGAZ Stocks
Among Stocks Worth Over One Trillion Naira (SWOOTs), performance was largely positive.
Dangote Cement gained 6.48%, Lafarge edged up 0.23%, and Nigerian Breweries rose 0.19%, reinforcing confidence in heavyweight counters.
However, the FUGAZ group of tier-one banks (FBN Holdings, UBA, GTCO, AccessCorp, and Zenith Bank) displayed mixed momentum.
UBA advanced 1.3%, while GTCO and AccessCorp closed flat. Zenith Bank fell 1.01%, and FBN Holdings slipped 0.32%, indicating selective investor positioning within the banking space.
Market Outlook
The Nigerian All-Share Index has firmly reclaimed its bullish trajectory, breaking past the 145,000 and 146,000 levels in quick succession.
Analysts expect the rally to continue in the near term, supported by gains in mid- and large-cap stocks, improved liquidity, and sustained investor confidence in defensive plays like cement, energy, and banking.
As market breadth widens and corporate results trickle in, the NGX is poised to test new psychological levels, with Dangote Cement remaining at the forefront of Nigeria’s equity resurgence.
