₦1 trillion economy ambitions received a market-based endorsement on Thursday as the Nigerian Exchange (NGX) recorded a ₦479 billion increase in market capitalization, driven by strong investor interest in insurance and consumer goods equities.
The benchmark NGX All-Share Index advanced by 756.83 points, representing a 0.52 percent gain to close at 146,570.69.
This brought the week-to-date performance to 4.8 percent and the year-to-date return to 42.4 percent, positioning the equities market as one of the most resilient among emerging markets.
A total of 1.98 billion shares were traded in 35,282 deals, representing a 16 percent increase in trading volume compared to the previous day.
However, total turnover declined by 10 percent to ₦27 billion, indicating a shift toward lower-priced but high-volume stocks.
The NGX Insurance Index posted the strongest sectoral gain, rising by 8.76 percent. AXA Mansard led the performance with a 10 percent price appreciation to ₦13.31 per share.
Cornerstone Insurance and AIICO Insurance also gained 10 percent each. Linkage Assurance recorded the highest trading volume at 372 million shares followed by Prestige Assurance (249 million), Veritas Kapital (182 million), and Sterling Bank (121 million).
The consumer goods segment also posted notable advances. The NGX Consumer Goods Index rose by 4.08 percent, supported by gains in Guinness Nigeria (9.98%) and University Press (10.00%).
The upward momentum followed the formal signing of the Nigerian Insurance Industry Reform Act 2025 by President Bola Tinubu.
The new law is expected to accelerate sectoral expansion, enhance regulatory oversight, and improve market confidence.
According to the National Insurance Commission (NAICOM), insurance equities surged by 299.15 percent in trading volume following the announcement.
Chams Plc led the decliners with a 9.94 percent drop to ₦2.90. Other laggards included Austin Laz (−9.83%), Caverton Offshore (−9.65%), and UAC of Nigeria (−9.44%), reflecting sector-specific weaknesses.
Analysts attribute Thursday’s gains to improving macroeconomic sentiment, strong second-quarter earnings in select sectors, and expectations tied to regulatory reforms.
The equities market continues to attract investors seeking exposure to dividend-paying and policy-backed sectors.
With improved liquidity and rising investor participation, the NGX remains a key instrument in the government’s broader economic strategy to scale Nigeria’s GDP towards the ₦1 trillion threshold.