NGX Market Cap Hits ₦78.73 Trillion as Bullish Run Lifts Investor Wealth by ₦1.76 Trillion

The Nigerian Exchange (NGX) continued its bullish streak on Thursday, July 10, 2025, with the stock market achieving new historic highs.

Market capitalisation jumped to ₦78.73 trillion, reflecting a significant ₦1.76 trillion increase in investors’ wealth, driven by strong equity demand and a major listing by Guaranty Trust Holding Company (GTCO).

The All-Share Index (ASI) climbed 2.01%, adding 2,457.13 basis points to close at a new all-time high of 124,446.80. However, while both the index and market cap advanced, the disparity between their growth rates was largely due to the listing of GTCO Plc’s public offer of 2.29 billion ordinary shares at ₦70 per share, which introduced new equity into the market.

Despite the slight divergence in performance indicators, overall market momentum remained positive, marking the seventh consecutive trading day of gains.

Brokers described the mood as upbeat, with widespread buying interest recorded across all major market sectors. Market breadth remained firmly in positive territory, with 70 stocks appreciating compared to just 10 losers.

Trading activity also saw a robust uptick:

Total volume traded rose by 44.05%

The total value of transactions surged by 77.62%

A total of 1.28 billion units worth ₦27.73 billion were exchanged in 27,875 deals, according to a market note by Atlas Portfolio Limited.

ACCESSCORP topped the activity chart, contributing 13.62% of the day’s trading volume, followed by AIICO (6.41%), JAPAULGOLD (5.79%), UBA (5.04%), and FCMB (4.95%).

On the value side, ACCESSCORP again led, accounting for 14.38% of total value traded, affirming its dominance across both metrics.

Several stocks hit the maximum daily appreciation limit of 10%, leading the advancers’ chart:

FTNCOCOA

HMCALL

UBA

UPDC

CAVERTON

CONHALLPLC

Other notable gainers included:

REDSTAREX (+9.99%)

ABCTRANS (+9.97%)

CAP (+9.96%)

ELLAHLAKES (+9.95%)

AIICO (+9.95%)

Meanwhile, on the downside, NEIMETH recorded the biggest loss of the day, shedding 9.91%.

Other losers were:

LEGENDINT (-9.88%)

CADBURY (-6.22%)

LIVESTOCK (-5.67%)

VFDGROUP (-2.86%)

DANGSUGAR (-0.19%)

All five key sectors under the coverage of Atlass Portfolio Limited posted gains, reinforcing the market-wide bullish sentiment:

Insurance led with a +3.96% rise

Banking advanced +3.86%

Consumer Goods added +1.15%

Industrial Goods rose +0.25%

Oil & Gas posted a marginal gain of +0.04%

With the NGX continuing to benefit from strong institutional inflows and increasing retail participation, analysts say the ongoing rally could stretch further, especially if macroeconomic stability is sustained and more high-profile listings hit the market. The inclusion of GTCO’s fresh equity is also expected to enhance liquidity and deepen investor participation in the financial services sector.