The Nigerian Exchange (NGX) All-Share Index saw an increase of 0.15% on Tuesday, as bargain hunters pushed market capitalization up by approximately N98 billion.
The positive performance was driven by investors purchasing medium- and large-cap stocks, leading to a gain of 158.05 basis points. By the close of trading, the NGX All-Share Index stood at 104,788.35 points.
Despite the overall market growth, trading activity was mixed. The total number of shares traded fell by 7.61%, while the total value of transactions increased significantly by 50.07%.
Investment firm Atlass Portfolio Limited reported that 471.71 million shares worth ₦19.89 billion were traded across 14,600 transactions.
FBN Holdings (FBNH) led in trade volume, accounting for 17.63% of the day’s transactions. Other heavily traded stocks included Zenith Bank (ZENITHBANK) at 6.27%, Universal Insurance (UNIVINSURE) at 5.14%, UAC Nigeria (UACN) at 4.50%, and Guaranty Trust Holding Company (GTCO) at 4.29%.
Geregu Power Plc (GEREGU) was the most traded stock in value terms, contributing 41.67% of the total transaction value.
In terms of top gainers, Red Star Express (REDSTAREX) and Universal Insurance (UNIVINSURE) saw the highest percentage increases, both rising by 10%. Other notable gainers included Beta Glass (+9.98%), Northern Nigeria Flour Mills (+9.98%), and Chellarams Plc (+9.89%).
Conversely, Ikeja Hotels (IKEJAHOTEL) was the biggest loser of the day, falling by 9.55%. Other stocks that declined included NEM Insurance (-6.59%), Sunu Assurances (-6.14%), Consolidated Hallmark Insurance (-5.97%), and Royal Exchange Plc (-3.03%).
Despite some losses, the market closed on a positive note, with 38 stocks gaining and 23 stocks declining. Sectoral performance was also strong, with three of the five major sectors ending in the green. The consumer goods sector led with a 0.16% increase, followed by the industrial sector at 0.06% and the banking sector at 0.03%. The insurance and oil & gas sectors declined by 0.52% and 0.01%, respectively.
Overall, the Nigerian stock market’s total capitalization increased by ₦97.87 billion, closing at ₦64.89 trillion.
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