St*ck Market Frenzy: Nigerian Investors Rake In ₦1.8 Trillion In A Single Day

The Nigerian Exchange Limited (NGX) witnessed a historic surge on Thursday, July 10, as investors pocketed an unprecedented ₦1.806 trillion in a single trading day, driven by a sharp rally in the All-Share Index (ASI).....KINDLY READ THE FULL STORY HERE▶

The ASI jumped by 2,457.13 points—or 2.01%—closing at 124,446.80, up from 121,989.67 the previous day. This milestone marks the first time in history that the ASI has crossed the 124,000 mark, highlighting renewed investor confidence amid improved market liquidity and optimism over ongoing economic reforms.

Market capitalisation also saw a significant rise, climbing by 2.35% to ₦78.726 trillion, compared to ₦76.970 trillion on Wednesday.

Market analysts credit the strong performance to growing confidence in Nigeria’s equity market, bolstered by favorable policy signals and a more optimistic economic outlook.

Winners Dominate the Market

The session ended with a robust positive market breadth: 70 stocks gained, while only 10 declined.

Top gainers included:

• FTN Cocoa – ₦6.82 (+10%)

• UPDC – ₦4.62 (+10%)

• United Bank for Africa (UBA) – ₦39.60 (+10%)

• Consolidated Hallmark Holdings – ₦3.30 (+10%)

• Haldane McCall – ₦4.73 (+10%)

A Few Stocks in the Red

Despite the market rally, a handful of stocks posted losses. Notable losers were:

• Neimeth Pharmaceuticals – ₦9.00 (-9.91%)

• Legend Internet – ₦7.21 (-9.88%)

• Industrial and Medical Gases – ₦34.00 (-7.36%)

• Cadbury Nigeria – ₦55.00 (-6.22%)

• Livestock Feeds – ₦9.15 (-5.67%)

Trading Volume Skyrockets

Trading activity soared significantly. A total of 1.3 billion shares worth ₦27.73 billion were exchanged in 27,875 deals—well above Wednesday’s 888.7 million shares valued at ₦15.61 billion across 24,303 transactions.

The most actively traded stocks included:

• Access Corporation – 174.22 million shares (₦3.99 billion)

• AIICO Insurance – 81.96 million shares (₦165 million)

• Ja Paul Gold – 74.01 million shares (₦245.2 million)

• UBA – 64.51 million shares (₦2.52 billion)

• FCMB – 63.3 million shares (₦585.75 million)

With year-to-date performance staying strong, the Nigerian stock market continues to benefit from renewed investor enthusiasm and the growing attractiveness of equities in a reform-driven economic environment.