Nigerian Stock Market Extends Rally with N884 Billion Gain
The Nigerian stock market maintained its upward trajectory on Tuesday, as investors recorded a significant gain of N884 billion. Market capitalization rose by 0.67 percent, climbing from N131.608 trillion to N132.492 trillion, while the All-Share Index advanced by 1,372.52 points, or 0.67 percent, to close at 205,831.38.
This performance has pushed the year-to-date return to 32.27 percent, with market breadth closing positive at 42 gainers against 21 losers. Leading the gainers’ chart, Stanbic IBTC and Ecobank Transnational Corporation each appreciated by 10 percent, closing at N161.70 and N50.60 per share, respectively. NGX Group followed closely with a 9.97 percent gain to settle at N168.75, while Cornerstone Insurance rose by 9.94 percent to N5.64 and Mecure Industries advanced by 9.92 percent to N67.60 per share.
On the downside, Fortis Global Insurance topped the losers’ table, shedding 8.20 percent to close at N1.12. McNichols Plc declined by 8.17 percent to N6.52, while Academy Press dropped by 6.96 percent to N7.35 per share. International Energy Insurance lost 6.88 percent to close at N3.25, and Guinea Insurance fell by 5.83 percent to N1.13 per share.
Trading activity analysis revealed a 21 percent increase in volume, accompanied by a 0.62 percent decline in value and a 25 percent drop in the number of deals. A total of 569.3 million shares worth N32.25 billion were traded in 45,777 transactions, compared to 470.01 million shares valued at N32.45 billion exchanged in 60,793 deals on Monday.
Access Corporation led the activity chart by volume with 67.53 million shares worth N1.75 billion, followed by Zenith Bank with 39.74 million shares valued at N4.5 billion. VFD Group traded 37.61 million shares worth N422.99 million, while Guaranty Trust Holding Company recorded 30.57 million shares valued at N3.79 billion. Lasaco Assurance traded 26.31 million shares worth N52.61 million.
The sustained rally underscores growing investor confidence in Nigeria’s equity market, supported by strong corporate earnings and improving macroeconomic conditions. Market analysts suggest that continued positive sentiment could further bolster gains in the coming sessions, though investors are advised to remain cautious amid global economic uncertainties.
