Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian Exchange Limited (NGX) on Tuesday, May 27 recorded a historic surge as the All Share Index (ASI) soared past the 111,000 points mark, closing at 111,606.22 points

Data showed that at the end of trading, the ASI jumped from 109,884.93 to a record-high of 111,606.22, gaining 1.57% as it crossed both the 110,000 and 111,000 marks.

Market capitalisation also rose by 1.50% to reach N70.377 trillion by the close of trading, up from N69.2 trillion in the previous session.

This means that investors made a whopping N1.086 trillion after 4 hours of trading activities.

The standout performer driving this rally was Airtel Africa Plc, amid the company’s ongoing $100 million share buy-back programme, now in its second tranche following the successful completion of the first phase announced on December 23, 2024.

In summary, investors exchanged 409,571,113 shares valued at N9.869 billion across 15,992 deals on the NGX on Tuesday.

Here is a snapshot of the losers and winners

In terms of trading activity, Custodian Investment led the market by volume:

Naira's value drops against US dollar

Earlier, Legit.ng reported that the value of the naira has depreciated again in the foreign exchange market against the US dollar on Tuesday.

Data shows that the Nigerian currency suffered losses both in the official and unofficial foreign exchange markets

The Central Bank of Nigeria has conducted FX intervention, selling $50 million to authorised dealer banks

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Source: Legit.ng