Nigerian Stock Market Soars as Investors Gain N226bn
The Nigerian stock market experienced a significant surge, with investors’ portfolio value increasing by over N226 billion by the end of Tuesday’s trading session, according to data from the local bourse.
The Lagos exchange closed in positive territory today, extending its bullish run from the previous sessions, as key market performance indicators appreciated by 0.30% on the day.
Stockbrokers said the upward trajectory was fueled by sustained buying interest in medium- and large-scale stocks, particularly NGXGROUP, NEIMETH, CADBURY, DANGSUGAR, and 53 others, reflecting continued investor confidence in the bourse’s momentum.
The Nigerian Exchange All-Share Index grew by 358.60 basis points to close at a fresh all-time high of 121,653.93 points, representing a 0.30% increase from the previous session. Trading activities inched higher as the total volume and total value of all trades consummated on the exchange increased by 22.33% and 34.94%, respectively.
In its note, Atlass Portfolio Limited told investors that approximately 1,008.10 million units valued at ₦19,484.18 million were transacted across 24,770 deals.
In terms of volume, ACCESSCORP led the activity chart, accounting for 12.40% of the total volume of all trades, followed by JAPAULGOLD (12.28%), MBENEFIT (5.55%), UNIVINSURE (5.45%), and AIICO (4.04%), rounding out the top five.
Ticker: GTCO emerged as the most traded stock in value terms, accounting for 15.33% of the total value of trades on the exchange. CHAMPION, NGXGROUP, OMATEK, and CILEASING topped the advancers’ chart with a price appreciation of 10.00 percent each.
Other gainers include NEIMETH (+9.95%), FTNCOCOA (+9.94%), MANSARD (+9.94%), MEYER (+9.94%), CADBURY (+9.93%) and forty-eight others.
Twenty stocks depreciated, according to stockbrokers. DEAPCAP was the top loser, with a price depreciation of -10.00%. Other decliners include ETRANSACT (-9.55%), SUNUASSUR (-6.22%), VFDGROUP (-6.16%), OANDO (-2.18%), and JAIZBANK (-0.94%).
The equities market breadth closed positive, recording 57 gainers and 20 losers. The NGX sectoral performance was positive.
The insurance sector grew by +2.54%, followed by the banking sector, up by +1.14%. The consumer goods sector rose by +0.63%, and the industrial sector saw a marginal gain of +0.01%. The oil & gas sector dropped by 0.22%.
Overall, the equities market capitalisation surged by ₦226.24 billion to settle at ₦76.76 trillion, also marking a 0.30% increase. #Nigerian Stock Market Soars as Investors Gain N226bn Benchmark Interest Rate Projected to Fall by 3% in 2025
