Investors’ Wealth Tops N159trn as Nigerian Stock Market Expands
The Nigerian Exchange (NGX) market capitalisation topped N159 trillion on Tuesday as investors’ buying interest pushed equities portfolio value, or investors’ total wealth, upward by N309 billion.
The local bourse extended its bullish momentum into Tuesday, building on Monday’s gains, with the NGX All Share Index (ASI) advancing by 0.19% to close at 246,659.56 points.
A sustained bullish run nudged the market’s year-to-date return to 58.51%, while total market capitalisation rose by approximately ₦307 billion to ₦159.12 trillion.
The number of deals and the total value of transactions executed in the local bourse declined by 11.98% and 0.63%, respectively, to 50,059 deals and ₦49.28 billion, suggesting relatively subdued trading intensity.
ACCESSCORP topped the volume and value chart with 336.62 million units and N8.65 billion worth of trades. Investor sentiment remained upbeat, as reflected in a market breadth ratio of 1.65x, with 33 gainers outperforming 20 losers.
The gainers list was led by UPDCREIT (9.86%), THOMASWY (9.74%), and IKEJAHOTEL (9.53%), while the losers list was topped by MECURE (-9.95%), HMCALL (-9.86%), and CMFC (-9.85%).
Stockbrokers said performance across sectors was broadly positive. The Insurance (+0.49%), Consumer Goods (+0.47%), Industrial (+0.04%), and Oil & Gas (+0.03%) indices recorded gains, while the Banking (-0.02%) index edged lower.
Meanwhile, the Commodity index closed unchanged. Market activity presented a mixed picture. Trading volume increased by 9.49% to 932.45 million shares, indicating improved participation.
Market analysts at Cowry Asset Limited expect the market’s positive momentum to persist, supported by continued strategic investor repositioning and portfolio rebalancing.
Nevertheless, the firm said intermittent profit-taking in recently appreciated stocks could temper the pace of further gains in the near term. Nigeria’s Debt Figures Exaggerated – FG
