After a turbulent start to the week, the Nigerian equities market witnessed a turnaround on Tuesday, with investors seeing a recovery of ₦100.45 billion in market value.
This rebound follows Monday’s steep decline, when the Nigerian Exchange Limited (NGX) lost ₦658.23 billion, closing the day with a market capitalisation of ₦65.49 trillion. The drop was largely influenced by global economic uncertainties, particularly tensions in the U.S. financial markets, which experienced what has been dubbed a “manic Monday.” Major U.S. indices like the S&P 500 and Nasdaq lost early gains amid concerns over renewed tariff threats from former President Donald Trump, causing volatility in international markets.
Locally, the NGX All Share Index rose by 0.15 per cent to close at 104,376.73 points, while the market capitalisation also increased to ₦65.59 trillion at the end of Tuesday’s session.
Despite the uptick in indices, trading activity remained relatively subdued. The total volume of shares traded rose slightly by 3.71 per cent to 460.57 million, but the total value dropped to ₦10.11 billion, representing a 9.35 per cent decline from the previous session. The number of deals also dipped by 7.41 per cent.
Market sentiment was largely negative, with only 16 stocks posting gains against 43 that recorded losses.
Sectoral performance was mixed. The banking and oil & gas sectors managed modest gains of 1.89 per cent and 0.04 per cent, respectively. However, the insurance sector saw the steepest drop, declining by 4.07 per cent. The consumer goods and industrial goods sectors also ended in the red, down by 0.16 per cent and 0.11 per cent respectively. The commodity segment closed flat.
Leading the gainers’ chart were Secure Electronic Technology, Abbey Mortgage Bank, and Sterling Financial Holding Company, which appreciated by 8.89 per cent, 8.35 per cent, and 6.85 per cent, respectively.
On the flip side, UH Real Estate Investment Trust fell by 9.95 per cent to close at ₦46.15. NAHCO and NEM Insurance also saw sharp losses, down by 9.94 per cent and 9.92 per cent, respectively.
Banking stocks continued to dominate trading activity, with significant volumes exchanged in Access Corporation, Guaranty Trust Holding Company, Fidelity Bank, and FCMB Group.
As markets continue to adjust to both local and international developments, investor sentiment remains cautious but responsive to market signals.
