Nigerian Exchange hits historic high as market cap reaches N163tn

The Nigerian equities market reached a historic milestone on Wednesday, with the benchmark All-Share Index hitting an all-time peak of 251,191.02 points. This 0.23 percent increase contributed to a rise in total market capitalization, which expanded by approximately N374 billion to reach N163.06 trillion.

Exchange-traded funds (ETFs) also saw significant gains. STANBICETF30 led the sector with a 10 percent jump, rising from N1,537.30 to N1,691.03. Other notable ETF increases included GREENWETF, which rose by approximately 5.72 percent, and VETGOODS, which gained about 6.35 percent.

Market performance was characterized by broad-based gains across the banking, insurance, and consumer goods sectors. This upward momentum occurred despite the Central Bank of Nigeria maintaining its benchmark Monetary Policy Rate at 23.00 percent. Trading activity saw a substantial increase in volume, with investors exchanging 1.59 billion shares.