The Nigerian Exchange (NGX) continued its bullish trend on Tuesday, with renewed investor interest in insurance and banking stocks propelling the market upward. The trading session closed with a gain of N254 billion, extending the positive momentum witnessed at the start of the week.
At the close of business, the total market capitalisation of listed companies rose to N88.5 trillion, up from N88.25 trillion recorded in the previous session. Similarly, the All-Share Index (ASI) advanced by 401.36 basis points, representing a 0.29 per cent increase, to close at 139,796.11 points.
Trading Activity Declines Despite Market Gains
According to trading data, investors exchanged 659.16 million shares worth N12.50 billion in 25,320 transactions. This reflected a 30 per cent decline in volume, turnover, and deal count compared with Monday’s trading session.
Market breadth remained in the green, with 36 gainers outpacing 19 losers, while 72 equities closed unchanged.
Top Gainers and Losers
On the gainers’ list, Regency Alliance Insurance led the pack, appreciating by 10 per cent to close at N1.43 per share. It was closely followed by MeCure Industries, which advanced 9.92 per cent to N21.60, and E-Tranzact International, which rose 9.73 per cent to N12.40. Other notable performers included Daar Communications, up 9.57 per cent to N1.03, and Deap Capital, which gained 9.52 per cent to close at N1.84.
On the other hand, Unilever Nigeria topped the losers’ chart with a 9.79 per cent decline to N63.15 per share. FTN Cocoa Processors followed with a 9.40 per cent drop to N5.40, while Ellah Lakes slipped 8.76 per cent to N13.02. Linkage Assurance shed 6.85 per cent to close at N2.04, and Berger Paints dipped 6.33 per cent to N35.50 per share.
Financial Services Dominate Trading
Financial stocks maintained their dominance on the activity chart. FCMB Group was the most traded equity by volume, accounting for 202.49 million shares worth N2.09 billion. It was trailed by Universal Insurance, which recorded 63.14 million shares valued at N79.39 million, and First HoldCo, which exchanged 44.23 million shares valued at N1.34 billion. Regency Alliance Insurance and AccessCorp also saw significant activity, with 30.98 million shares and 26.12 million shares traded, respectively.
In terms of value, GTCO emerged as the leader, transacting shares worth N1.50 billion. First HoldCo followed with N1.34 billion, while MTNN and AccessCorp recorded N800.11 million and N676.41 million, respectively.
Sector Performance Remains Largely Positive
Performance across key market indices reflected widespread positive sentiment. The NGX Top 30 Index rose 0.32 per cent, while the NGX Insurance Index gained 0.98 per cent. The NGX Industrial Index advanced 0.85 per cent, and the NGX Banking Index closed 0.43 per cent higher. Likewise, the NGX Premium Index added 0.47 per cent, and the NGX Consumer Goods Index increased by 0.28 per cent.
On a weekly basis, the NGX has managed to post a marginal gain of 0.05 per cent, despite recording a four-week loss of 4.17 per cent. However, year-to-date, the ASI has maintained a strong growth trajectory with a return of 35.82 per cent, signalling sustained investor appetite for equities.
Analysts’ Outlook
Market analysts attributed the bullish run to sustained demand for low- and mid-cap stocks within the insurance and banking segments, even as broader market sentiment remained mixed.
Meanwhile, the NGX had opened the week on a strong note, with Monday’s session adding N263 billion to market capitalisation, driven largely by renewed positions in consumer goods and insurance equities, particularly PZ Cussons Nigeria and University Press Plc.
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