Nigeria’s NGX rebounds as market capitalisation climbs to N155.59tn
AI Market Summary
Nigerian equities surged to record highs as the CBN held the policy rate at 26.5%, reducing near-term macro uncertainty and triggering broad-based bargain hunting. Strength was concentrated in banks, industrials, and oil&gas, with many stocks hitting daily limit gains, signalling strong risk appetite and liquidity rotation into blue chips. Fixed income was flat, implying the move was equity-led rather than driven by rate repricing.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-0.19%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Nigeria’s stock market rallied on Wednesday, pushing the All-Share Index to a record close of 242,459.98 points and lifting total market capitalisation to N155.59tn. The Central Bank of Nigeria’s decision to keep the Monetary Policy Rate unchanged at 26.50% supported investor sentiment and drove gains across banking, industrial and oil and gas stocks. FBN Holdings and Wema Bank were among 54 stocks that hit their daily upside limit, while NAHCO and Vitafoam were among a small group of decliners that fell to their daily downside limit.
