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NGX market cap hits N164 trillion record as volume crosses 1 billion shares
NGX market capitalisation reached N164 trillion on September 28 as the ASI closed at 252,635.11 and volume hit 1.02 billion shares. What drove the record session.
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Total market capitalisation of listed equities expanded to a record N163.999 trillion, approximately N164.00 trillion, from N163.655 trillion in the prior session on September 25, according to Nairametrics. The benchmark NGX All-Share Index appreciated by 521.70 points, or 0.21 per cent, to close at 252,635.11 points from 252,113.41, while total equity trading volume crossed the one billion mark at 1,024,773,814 shares across 61,661 deals.
The session in numbers
- ASI: 252,635.11 points, up 0.21 per cent from 252,113.41.
- Market capitalisation: N164.00 trillion, up 0.21 per cent from N163.655 trillion.
- Market value gained: N345 billion.
- Trading volume: 1.024 billion shares, up 44.47 per cent from 708.81 million shares.
- Total deals: 61,661, up 45.31 per cent from 42,434.
All figures are NGX daily data reported by Nairametrics analyst Israel Ojoko on September 28.
A record inside a record month
The September 28 print did not arrive alone. In the week to September 25, the ASI had already added 0.92 per cent to 252,113.41, taking the local year to date gain to 62.01 per cent, or 76.05 per cent in dollar terms, according to Punch on October 4. September as a whole added N5.37 trillion, or 3.40 per cent month on month, as tracked in our September month review.
The backdrop for the flows is familiar to readers of this blog: reserves at 55.25 billion dollars, an 18 year high, plus the return to Frontier Market status from September 21, opened a new channel for capital inflows beyond oil receipts. Heavy caps translating those flows into index points is the same mechanism we tracked when SEPLAT hit N16,000 and lifted the Oil and Gas Index to 6,252.0.
What to watch
- Follow through above N164 trillion: whether the level holds through the September 29 to 30 profit-taking that later pulled capitalisation back toward N163.10 trillion.
- Volume persistence: whether daily turnover stays near one billion shares or falls back toward the 548 to 708 million range of surrounding sessions.
- Driver mix: which caps contribute the points, banks and energy or a broader set, and what that says about foreign versus domestic flow.
- October earnings: Q3 reports decide whether prices at these levels have operating numbers behind them.
Frequently asked questions
Frequently asked questions
What exactly hit a record on September 28?
Both the broad market value and the index. Market capitalisation closed at N163.999 trillion, approximately N164 trillion, and the ASI closed at 252,635.11 points, each up 0.21 per cent on the session, per NGX data via Nairametrics.
How active was trading?
1,024,773,814 shares across 61,661 deals, up 44.47 per cent in volume and 45.31 per cent in deals from the prior session, which recorded 708.81 million shares and 42,434 deals.
Does a record mean the whole market rose?
Not necessarily. The ASI is cap weighted, so large names decide the close. Check advancers against decliners and the volume share of Financial Services before reading a record as broad strength.
Verify: confirm the September 28 close, volume and deals on the NGX website.
