The Nigerian Exchange (NGX) maintained its bullish trajectory on Tuesday as the All-Share Index (ASI) gained 49 basis points, translating to a N321 billion boost in market capitalization. Following the public holiday, the local equities market reopened on a positive note, driven by renewed buying interest in select mid- and large-cap stocks.
Resuming from where it paused ahead of the holiday, investor appetite focused on undervalued stocks such as INTBREW, JAPAULGOLD, UCAP, and UBA, helping to sustain upward momentum.
By the close of trading, the NGX All-Share Index had risen by 511.17 points, or 0.49%, to close at 104,744.98. However, market turnover metrics saw a slight dip, with total trading volume and value down by 6.11% and 8.99%, respectively.
A trading update by Atlass Portfolios Limited showed that approximately 353.28 million shares, valued at N7.20 billion, exchanged hands in 13,734 transactions. ACCESSCORP led the volume chart, accounting for 10.97% of total trades, followed by FIDELITYBK (9.82%), CHAMS (8.43%), UNIVINSURE (7.90%), and ZENITHBANK (6.74%).
In terms of value, ZENITHBANK topped the chart, responsible for 14.96% of the total transaction value.
Among the day’s top gainers, INTBREW recorded a 10% price jump, followed closely by Nigerian Breweries (NB) with 9.94%, TIP (9.89%), JAPAULGOLD (9.79%), CORNERST (9.65%), and SMURFIT (9.52%). Thirty-four other stocks also posted gains.
On the flip side, 20 stocks recorded losses. INTENEGINS led the laggards with a 9.46% decline. Others on the losers’ list included FTNCOCOA (-7.41%), STERLINGNG (-4.72%), FIRSTHOLDCO (-3.46%), OMATEK (-3.33%), and DANGSUGAR (-0.90%).
Market breadth was strongly positive, with 40 gainers outpacing 20 losers. Sector performance was equally robust, with four of the five major indices closing in the green.
The consumer goods sector led the charge, appreciating by 2.50%, followed by insurance with a 2.16% rise. The banking sector advanced 0.71%, while the industrial sector added 0.09%. The oil & gas segment was the sole decliner, slipping by 0.11%.
In total, the NGX market capitalization swelled by N321.21 billion, reflecting a 0.49% increase to close at N65.82 trillion.
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