The Nigerian Exchange (NGX) has reached a historic milestone, with the All-Share Index (ASI) crossing the 160,000-point mark for the first time, highlighting strong investor confidence and positive market momentum.
The index closed at 160,591.76 points, up 640.68 points (0.40%), driven by gains in banking, insurance, consumer goods, and energy stocks. Market activity was high, with around 1.4 billion shares traded, reflecting strong participation from both retail and institutional investors.
The surge pushed total market capitalisation to approximately ₦102.7 trillion, reinforcing the market’s recent climb above the ₦100 trillion mark. Analysts say the milestone demonstrates resilience in the Nigerian equities market, though short-term profit-taking may temper further gains.
Investors view the 160,000-point milestone as both a psychological and technical landmark, signaling renewed optimism for the first quarter of the year and a potential continuation of the bullish trend in the equities market. Visit www.jocomms.com for more news.