The Nigerian Exchange (NGX) sustained its bullish momentum on Wednesday, adding ₦92 billion in market capitalization, as renewed investor appetite for insurance stocks continued to lift sentiment across the trading floor.
At the close of trading, the market capitalization rose to approximately ₦92.5 trillion, up from ₦92.04 trillion recorded in the previous session. Similarly, the All-Share Index (ASI) appreciated by 0.50 %, settling at 145,719.09 points, underscoring improved confidence in the equities market.
Insurance Stocks Take Center Stage
Investor enthusiasm in the insurance segment has been notably strong following the recent enactment of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, which consolidates outdated regulations and raises capital requirements for operators. Analysts say the reform has sparked optimism about recapitalization prospects and consolidation opportunities within the sector.
This renewed confidence has made insurance equities some of the best-performing stocks on the NGX. The NGX Insurance Index has surged by over 91 % year-to-date, outpacing the broader All-Share Index, which has gained about 40 % in the same period.
Top Market Movers
Among the day’s top gainers were FTN Cocoa Processors (up 8.89 %), Eterna Plc (6.96 %), Prestige Assurance, and Fidelity Bank, which all recorded strong upward movements.
Conversely, Industrial & Medical Gases, LivingTrust Mortgage Bank, Sunu Assurances, Jaiz Bank, and Chams were among the notable decliners of the session.
Trading activity remained upbeat, with 525.7 million shares valued at ₦13.59 billion exchanged across 25,571 deals.
Sectoral Performance
Performance across key sectors was broadly positive:
Premium Board Index: +1.47 %
Oil & Gas Index: +0.59 %
Banking Index: +0.12 %
Pension Index: +0.74 %
The combination of reform-driven optimism and sustained liquidity has kept the NGX on an upward trajectory, with analysts forecasting continued gains in the short to medium term particularly as investors reposition ahead of corporate earnings releases in Q4.
