The market capitalisation of the Nigerian Exchange (NGX) Limited reached N100 trillion on Monday.
Data obtained from the NGX showed that the market capitalisation closed at N101.80 trillion.
This represents a N1.87 trillion increase from the N99.94 trillion recorded on January 2.
In dollar terms, the exchange said the market capitalisation rose from $69.61 billion to $71.15 billion.
The all-share index (ASI) climbed 1.74 percent, or 2725.86 basis points, moving from 156,492.36 to 159,218.22 during trading.
The NGX stated that the rise in ASI lifted both month-to-date and year-to-date returns to 2.32 percent.
“The rally was driven by strong buying interest in stocks such as Cadbury Nigeria, Fidson Healthcare, and Champion Breweries, reflecting the traditional ‘January Effect’ that often characterises early-year market activity,” the exchange said.
“Investor sentiment strengthened markedly, with market breadth improving to 9.13x as 73 equities recorded gains against eight decliners, signalling widespread participation in the rally.”
Temi Popoola, group managing director and chief executive officer (CEO) of Nigerian Exchange Group, said the milestone reflects growing confidence in the Nigerian capital market.
“The equities market capitalisation crossing the ₦100 trillion mark is a defining milestone for Nigeria’s capital market and a clear signal of renewed investor confidence as the year begins,” Popoola said.
“It reflects the market’s growing depth, resilience, and ability to respond positively to improving macroeconomic conditions and structural reforms.”
He also noted that collaboration among market stakeholders and regulators has strengthened market credibility.
“Over the past two years, closer alignment between market operators, policymakers, and the Securities and Exchange Commission (SEC) has enhanced transparency, liquidity, and investor protection, reinforcing the Exchange’s role in mobilising long-term capital for economic growth,” he said.
Jude Chiemeka, CEO of Nigerian Exchange Limited, said the rally was supported by stronger participation and selective demand across key sectors.
“The breadth of the market tells a positive story,” Chiemeka said.
“We are seeing strong participation across banking, industrial, and consumer stocks, alongside rising trading volumes, which suggests growing investor confidence and a more active market at the start of the year.”
Trading activity was mixed, the NGX added.
Total volume traded rose by 58.13 percent to 695.64 million shares, while the value of transactions fell by 25.57 percent to N18.57 billion across 56,606 deals.
Year-to-date equities turnover increased to N43.52 billion, the exchange said.
“To open the week, Zenith Bank led trading by value at ₦3.51 billion, followed by WAPCO with ₦2.56 billion and Aradel Holdings at ₦1.57 billion, while Access Holdings and GTCO also featured among the most actively traded stocks,” the NGX stated.
The exchange added that fixed income market capitalisation remained steady at N51.48 trillion.
The exchange-traded funds (ETF) segment, however, recorded growth, with market capitalisation rising to N50.45 billion, highlighting increasing investor interest across asset classes.