Market News
Bull resurfaces at NGX as investors earn $372.7mln - NIGERIAN TRIBUNE
A total of 888 million shares worth N35.56 billion were exchanged
Nigeria’s equities market recorded upward momentum on Tuesday, as the benchmark All-Share Index (ASI) rose by 0.40 per cent to close at 201,287.78 points, pushing the year-to-date return to 29.35 per cent.
The rally translated into a N516 billion gain in market capitalisation, which settled at N129.21 trillion, underscoring sustained investor interest in select large-cap and consumer-facing stocks on the Nigerian Exchange Limited.
However, market internals painted a mixed picture, with investor sentiment remaining broadly negative. Market breadth closed weak at 20 gainers against 49 decliners, suggesting that the positive close was largely driven by gains in a handful of bellwether stocks.
Leading the gainers’ chart were Multiverse Mining and Exploration Plc, International Energy Insurance Plc, Chams Holding Company Plc, MTN Nigeria Communications Plc, and PZ Cussons Nigeria Plc, while NPF Microfinance Bank Plc, Skyway Aviation Handling Company Plc, Zichis Agro Allied Industries, Mutual Benefits Assurance Plc, and RT Briscoe (Nigeria) Plc recorded the steepest losses of the session.
Sectoral performance was largely positive, albeit uneven. The Consumer Goods, Oil and Gas, and Industrial Goods indices advanced by 0.24 per cent, 0.08 per cent, and 0.20 per cent respectively, supporting the market’s upward trajectory. In contrast, the Banking and Insurance sectors declined by 1.76 per cent and 2.64 per cent, reflecting continued profit-taking and cautious positioning in financial stocks. The Commodity sector closed flat.
Trading activity strengthened significantly, pointing to renewed market participation. Although the number of deals dipped by 11.40 per cent to 53,436 trades, both volume and value surged. A total of 888 million shares worth N35.56 billion were exchanged, representing increases of 49.63 per cent and 38.65 per cent respectively.
