NGX Gains N1.52 Trillion in One Session as Market Cap Crosses N161 Trillion

The Nigerian Exchange (NGX) added N1.52 trillion in a single trading session on Tuesday, pushing the market’s total capitalisation past N161 trillion for the first time. The All-Share Index (ASI) rose 1,926.1 points to close at 252,411.7, driven largely by a sharp rally in Nigerian Breweries shares.

Nigerian Breweries jumped more than 9% on the day, leading the gainers. Investors appear to be repricing the stock after a period of sustained pressure — the consumer goods sector, which had been dragged down by inflation and weak purchasing power, is showing signs of recovery as macroeconomic conditions stabilise.

Where the market stands now

The NGX has now recorded a year-to-date gain of over 60%, according to BusinessPost. That is a significant turnaround from the anxiety that surrounded the market for much of 2024 and early 2025. The consistent gains have been broad-based, spanning banking, oil and gas, and consumer goods stocks.

The N161 trillion market cap milestone is the latest in a string of records. The market crossed N145 trillion in late April and has barely paused since. At its current trajectory, it is quietly becoming one of the better-performing exchanges on the continent this year.

What is driving the rally

Analysts point to a combination of factors: the relative stability of the naira following CBN’s tighter monetary stance, improved oil revenue, and growing foreign portfolio investor interest. There is also a degree of domestic rotation — institutional money that had been sitting in fixed income instruments has been gradually moving into equities as yields plateau.

Whether the rally holds depends on how the macroeconomic picture evolves. Inflation is still elevated, and the cost of living remains a real drag on consumer stocks. But for now, the numbers are pointing in one direction.

Sources: ThisDay, Nairametrics, BusinessPost