Airtel Africa Plc led a strong surge on the Nigerian Exchange (NGX) as high investor demand for its shares pushed the market’s capitalization up by N1.1 trillion to a record N120.475 trillion. The company’s share price rose 10%, closing at N2,497 per share. This rally put Airtel Africa ahead of 37 other gainers and played a key role in the market’s overall positive momentum.
The NGX All-Share Index advanced 1,691.86 points, or 0.85%, to settle at 200,705.88 basis points, reflecting broad investor participation on the trading floor. Aggregate trading volume increased by 25.01% to 1.292 billion units, executed across 8,971 deals with a total value of N65.335 billion. Airtel Africa shares dominated activity, comprising 378.49 million units traded for N93.099 billion in 1,338 deals – an indication of sustained interest from consumers.
Thirty-seven equities recorded price appreciation, with Airtel Africa leading the day’s maximum capital gain of 10%, followed by John Holt Plc, Consolidated Hallmark Insurance Plc, and Legend Internet Plc. On the flip side, 23 stocks posted declines, topped by Caverton Offshore Support Group Plc’s 9.90% loss.
Airtel Africa’s elevated trading volumes and price movement aligned with its position as a high-liquidity counter, drawing significant capital inflows. The company’s shares represented over 142% of the session’s total turnover value, emphasizing its influence within the telecom sector and overall market dynamics. This activity occurred against a backdrop of steady macroeconomic conditions, including stable foreign exchange rates and policy continuity in telecommunications infrastructure rollout.
Market capitalisation reached N120.475 trillion, underscoring the exchange’s growth trajectory. Airtel Africa’s performance contributed to the positive breadth, with gainers outnumbering losers by 37 to 23. The session’s data points to concentrated demand in select large-cap stocks, particularly those with strong fundamentals in mobile data and voice services. Ongoing investor positioning in Airtel Africa reflects calculated exposure to its operational scale across multiple African markets.
