…market’s highest daily rally in Q2
Nigerian Exchange Limited (NGX) All Share Index (ASI) crossed the 111,000 points mark on Tuesday as investor swooped on shares of Airtel Africa Plc which fuelled the market’s N1.086 trillion or 1.50 percent rally at the close of trading.
This record gain on the NGX is the highest daily increase in this second quarter (Q2) of 2025 supported by momentum in select sectors and sustained investor appetite for mid-cap and high-yield players.
Airtel Africa is currently in the second tranche of its $100 million share buy-back programme. This is further to its announcements on December 23, 2024 and follows the completion of the first tranche of the Programme.
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Since the commencement of the first tranche of the $100million share buy-back programme, the Company has purchased 27,363,335 ordinary shares in aggregate, at a volume weighted average price of 136.7128 GBp per ordinary share.
Airtel Africa Plc shares moved the Lagos stock market higher after its share price rose from by N215.60 or 10 percent, from N2,156.90 to N2,372.50, its 52-week high.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation increased further on Tuesday from preceding trading day’s lows of 109,884.92 points and N69.291 trillion respectively to 111,606.22 points and N70.377 trillion.
In 15,992 deals, investors exchanged 409,571,113 shares worth N9.869billion. Custodian Investment, Fidelity Bank, Veritas Kapital Assurance, Zenith Bank and Access Holdings were actively traded stocks on Tuesday.
