NGX Market Cap Soars to ₦98.79trn as Insurance Stocks Hold Strong Despite Dip

The Nigerian Exchange Limited (NGX) ended the week on a strong positive note, with the overall market rallying amid renewed investor confidence across key sectors, led by financial services and insurance equities. According to the Weekly Market Report released by the NGX, the All-Share Index (ASI) rose by 4.48% to close at 155,645.05 points, while the Market Capitalization appreciated to ₦98.793 trillion, marking another milestone in 2025’s bullish performance trajectory.

This impressive growth in the broader market came despite a slight pullback in the NGX Insurance Index, which declined by 1.10% week-on-week, closing at 1,275.41 points, down from 1,289.59 points recorded the previous week. Analysts attributed the decline to short-term profit-taking by investors who had earlier accumulated insurance stocks following a strong third-quarter rally.

However, despite this mild correction, insurance equities remained among the most actively traded stocks on the Exchange during the week. The sector accounted for 12,186 deals, exchanging 389.21 million shares valued at ₦1.30 billion, signaling consistent investor participation and liquidity.

Among the top performers, Sovereign Trust Insurance Plc (SOVRENINS) led the pack with a staggering 76.35 million shares traded, valued at ₦292.86 million across 912 transactions. The company’s performance underscored its growing market relevance and investor confidence in its earnings outlook.

AIICO Insurance Plc followed closely, with 48.05 million shares valued at ₦187.09 million, maintaining its dominance in both transaction volume and value. Similarly, Mutual Benefits Assurance Plc recorded ₦117.03 million in trade value from 28.24 million shares, reflecting sustained investor interest in mid-tier insurance players.

Premium insurers such as AXA Mansard Insurance Plc (₦110.16 million) and NEM Insurance Plc (₦104.51 million) also contributed significantly to the sector’s turnover, buoyed by their robust fundamentals and consistent dividend policies.

Lower-priced but high-volume movers like Universal Insurance Plc, Veritas Kapital Assurance Plc, and Regency Assurance Plc helped maintain market liquidity, indicating active participation from retail investors attracted by affordable entry prices and long-term growth prospects.

The financial services sector, particularly insurance carriers, brokers, and service providers, continues to be a focal point of the NGX’s liquidity drive. This reflects growing optimism surrounding Nigeria’s financial reforms, particularly the Central Bank of Nigeria (CBN) and National Insurance Commission (NAICOM) initiatives aimed at improving corporate governance, capital adequacy, and technological innovation in the sector.

Reflecting on the broader market, the NGX All-Share Index’s 4.48% growth this week represents one of the strongest weekly performances in recent months, bolstered by gains in banking, industrial goods, and oil & gas sectors. On a year-to-date basis, the ASI has soared by 51.22%, affirming Nigeria’s equity market as one of Africa’s best-performing indices in 2025.

In contrast, the NGX Insurance Index’s slight -1.10% decline week-on-week should be viewed within the context of its 77.63% year-to-date gain, showing that the insurance sector remains a major outperformer in 2025 despite minor short-term adjustments.

Market watchers believe that the week’s performance highlights the resilience of the Nigerian capital market, driven by strategic investor rebalancing ahead of the final quarter earnings season. As attention shifts toward corporate disclosures and dividend declarations, analysts anticipate that the insurance sector’s underlying fundamentals will continue to attract both local and foreign investors seeking value and stability.

The NGX All-Share Index surged by 4.48% to 155,645.05 points as market capitalization hit ₦98.79 trillion. Despite a 1.10% dip in the Insurance Index, sector leaders like Sovereign Trust, AIICO, and Mutual Benefits drove strong trading activity worth ₦1.3 billion.