Investors at the Nigerian Exchange Ltd (NGX) enjoyed substantial profits on Tuesday as the market extended its bullish run, adding N1.045 trillion in value.
The total market capitalisation climbed to N68.105 trillion, marking a 1.56% rise from N67.060 trillion in the previous session. In parallel, the All-Share Index (ASI) jumped by 1,662.60 points to close at 108,361.10, up from 106,698.50.
This positive momentum was fueled by solid demand for both medium- and large-cap stocks, particularly in the financial sector. Key players such as Access Corporation, Guaranty Trust Holding Company (GTCO), and United Bank for Africa (UBA) saw notable investor interest.
Overall market sentiment was upbeat, with 42 stocks gaining ground against 25 that declined. Leading the pack, Ecobank Transnational Corporation surged by 10% to finish at N25.85, matching gains by Northern Nigeria Flour Mills, which closed at N82.50 per share. Nestlé Nigeria also soared by 10%, ending the day at N1,210, while Beta Glass advanced nearly 10% to settle at N132.80. Austinlaz followed closely, rising by 9.94% to close at N1.88.
On the downside, Guinea Insurance recorded the session’s steepest drop, losing 8.70% to close at 63k. DAAR Communications declined by 6.78% to 55k, while VFD Group and WAPIC Insurance fell by 6.59% and 6.07%, ending at N17.00 and N2.01, respectively. Regalins also slipped, down 4.69% to 61k.
Trading activity remained active, though slightly lower than the previous day. Investors exchanged 475.46 million shares worth N13.899 billion across 17,575 deals. This was down from Monday’s 569.041 million shares valued at N18.934 billion across 18,612 transactions.
Access Corporation led the volume chart with 103.92 million shares traded at a value of N2.2 billion. GTCO followed with 37.99 million shares worth N2.422 billion, while UBA saw 30.73 million shares change hands for N1.04 billion.
With investor confidence still strong, market watchers anticipate continued bullish momentum in the near term.
