Nigeria’s All-Share Index crossed the 120,000 mark for the first time, gaining 1,466.87 points to close at 121,257.69 as major stocks including Dangote Sugar and Oando posted maximum daily gains.
The 1.22% increase from the previous day’s 119,790.82 close was driven by strong performance in SWOOTs (Stocks Worth Over One Trillion Naira) including International Breweries, Zenith Bank, and BUA Cement. Market capitalization rose to ₦76.7 trillion from ₦75.5 trillion.
Trading volume remained robust at 861.6 million shares across 22,896 deals, despite a marginal decline from 868.6 million shares in the previous session. Fidelity Bank and Caverton dominated volume charts, highlighting sustained investor interest.
Dangote Sugar and Oando led gainers with 10% increases to ₦48.40 and ₦68.75 respectively. Champion Breweries, CI Leasing, and CWG completed the top five gainers, each posting gains approaching 10%.
Among banking stocks, Zenith Bank surged 9.43% while UBA advanced 4.31% and Access Corporation gained 1.32%. However, GTCO declined 0.72%, showing mixed performance within the FUGAZ banking group.
The All-Share Index has delivered 17.81% year-to-date returns, reflecting strong bullish sentiment and economic optimism. Zenith Bank recorded the highest turnover at ₦3.4 billion, followed by Aradel and Nestle with ₦2.4 billion and ₦2.2 billion respectively.
International Breweries gained 9.17% while BUA Cement soared 8.70%, contributing significantly to market momentum. However, some SWOOTs including Aradel and Lafarge Africa posted declines of 0.10% and 4.10% respectively.
Market analysts attribute the surge to positive economic reforms and improved investor confidence in Nigeria’s business environment. The crossing of 120,000 points represents a psychological milestone that could attract additional institutional investment.
Sustained buying in large-cap stocks could continue propelling the index higher in coming sessions, provided markets avoid overbought conditions.
About The Author
