The Nigerian equities market continued its bullish streak on Tuesday, achieving a record-breaking milestone as the Nigerian Exchange (NGX) surged to a historic valuation of ₦70.89 trillion. The rally resulted in a remarkable gain of approximately ₦260 billion in market capitalisation, buoyed by intensified buying activity across key sectors.
At the close of trading, the NGX All-Share Index climbed to a new peak of 112,427.48 points, reflecting a 0.37% increase, equivalent to 411.53 basis points. The uptick was largely driven by investor appetite for fundamentally strong medium- and large-cap stocks, including bellwether names such as DANGCEM, which appreciated by 2.27%, as well as FIRSTHOLDCO and INTBREW, which gained 8.82% and 3.11%, respectively.
Stockbrokers attributed the sustained rally to renewed investor optimism and aggressive bargain hunting in heavyweight counters. Key contributors to the positive sentiment included HONYFLOUR, FIRSTHOLDCO, and DANGCEM, whose strong performances underscored the confidence coursing through the market.
Trading volume and value also recorded notable improvements. Total volume traded rose by 20.21%, while the total transaction value jumped by 60.12%. Market data revealed that investors exchanged 622.64 million units of shares valued at ₦16.12 billion across 17,044 deals.
FIDELITYBK dominated the volume chart, accounting for 17.44% of total trades. Other active stocks included LEGENDINT (9.83%), UBA (8.99%), GTCO (6.65%), and ACCESSSCORP (5.56%). In terms of value, GTCO took the lead, contributing 17.48% of the day’s traded value on the NGX.
On the gainers’ chart, HONYFLOUR and SCOA led with a maximum daily price gain of 10.00% each. They were followed by IMG (+9.96%), INTENEGINS (+9.82%), MAYBAKER (+9.75%), ELLAHLAKES (+9.74%), and VERITASKAP (+9.38%), among others—bringing the total number of advancers to 35.
However, the trading session also witnessed 31 decliners. CONOIL topped the losers’ table with a 10.00% drop. Other significant losers included TRANSCOHOT (-9.97%), JBERGER (-9.94%), DAARCOMM (-7.69%), UCAP (-3.51%), and ZENITHBANK (-0.72%).
The overall market breadth closed on a positive note, reflecting the upbeat investor sentiment that continues to drive the rally. Five out of the six sector indices closed in the green, signaling widespread bullishness across various sectors.
The Banking Index surged by 1.36%, bolstered by appreciations in GTCO (+2.10%) and STANBIC (+4.26%). The Consumer Goods Index also advanced by 1.05%, largely influenced by INTBREW’s 3.11% rise, while the Industrial Goods Index rose by 0.96%, thanks to DANGCEM’s strength.
Meanwhile, the Insurance Index gained 0.81%, supported by continued interest in CORNERST, which climbed by 3.48%. The only laggard was the Oil & Gas Index, which dipped by 0.21% due to a significant decline in CONOIL (-10.00%).
At the end of the session, the equities market had added ₦259.49 billion in value, bringing the total capitalisation to ₦70.89 trillion—yet another record-setting feat for the NGX.
