The Nigerian stock market maintained its upward trajectory on Tuesday, as investors recorded significant gains amounting to N884 billion, further extending the ongoing bullish trend.
Market capitalization increased by 0.67 percent, rising from N131.608 trillion to N132.492 trillion. This growth was mirrored in the performance of the All-Share Index, which advanced by 1,372.52 points to close at 205,831.38, compared to 204,458.86 recorded in the previous trading session.
With this latest performance, the market’s year-to-date return climbed to 32.27 percent, reflecting sustained investor confidence. Market breadth also remained positive, with 42 stocks posting gains against 21 decliners.
On the gainers’ table, Stanbic IBTC and Ecobank Transnational Corporation led the rally, each recording a 10 percent increase to close at N161.70 and N50.60 per share, respectively. NGX Group followed with a 9.97 percent gain to settle at N168.75, while Cornerstone Insurance rose by 9.94 percent to N5.64. Mecure Industries also posted a strong performance, gaining 9.92 percent to close at N67.60 per share.
Conversely, Fortis Global Insurance topped the losers’ chart, declining by 8.20 percent to close at N1.12. McNichols Plc dropped by 8.17 percent to N6.52, while Academy Press fell by 6.96 percent to N7.35 per share. International Energy Insurance recorded a 6.88 percent loss to close at N3.25, and Guinea Insurance declined by 5.83 percent to N1.13 per share.
An analysis of trading activity revealed a mixed trend. While the volume of shares traded rose by 21 percent, the total value of transactions dipped slightly by 0.62 percent, and the number of deals fell by 25 percent.
In total, investors exchanged 569.3 million shares valued at N32.25 billion across 45,777 deals. This compares with 470.01 million shares worth N32.45 billion traded in 60,793 deals in the previous session.
On the activity chart, Access Corporation recorded the highest trading volume, with 67.53 million shares valued at N1.75 billion. Zenith Bank followed with 39.74 million shares worth N4.5 billion, while VFD Group traded 37.61 million shares valued at N422.99 million.
Guaranty Trust Holding Company also posted significant activity with 30.57 million shares worth N3.79 billion, alongside Lasaco Assurance, which recorded 26.31 million shares valued at N52.61 million.
