The Nigerian equities market delivered a strong performance between January 30 and February 27, as investors drove a broad-based rally that added more than N17.6 trillion to market capitalisation within the period.

Data from the Nigerian Exchange (NGX) Daily Official Lists show that total market capitalisation rose from N106.15 trillion on January 30 to N123.76 trillion on February 27, representing a gain of N17.61 trillion in less than one month. The rally persisted despite profit-taking observed toward the end of February.

In the same period, the All-Share Index (ASI) advanced significantly from 165,370.40 points to 192,826.78 points, reflecting widespread price appreciation across listed equities.

Sectoral indices mirrored the bullish momentum across the market. The NGX Main Board Index increased from 7,859.87 points to 8,714.84 points, while the NGX 30 Index climbed from 5,978.92 points to 6,968.65 points. Consumer-related stocks recorded gains, with the NGX Consumer Goods Index rising from 4,103.12 points to 4,370.24 points.

The NGX Oil and Gas Index also advanced markedly from 3,038.79 points to 4,060.73 points, indicating improved investor interest in energy counters. Banking and industrial stocks contributed significantly to the rally. The NGX Banking Index rose from 1,621.77 points to 1,892.07 points, while the NGX Industrial Index strengthened from 5,985.87 points to 7,314.57 points.

The NGX Insurance Index edged higher from 1,329.16 points to 1,359.91 points. Blue-chip stocks posted notable gains, as reflected in the NGX Premium Index, which climbed from 16,887.29 points to 21,459.05 points. The NGX MERI Growth Index advanced from 11,281.63 points to 13,962.12 points, while the NGX MERI Value Index increased from 14,497.18 points to 17,318.37 points.

The NGX Pension Index also rose from 7,701.37 points to 9,403.34 points. However, the NGX Growth Index moderated from 42,752.36 points to 34,345.51 points within the period.