Equities Investors in the Nigerian stock market had a profitable day on Tuesday as the Nigerian Exchange (NGX) recorded a significant gain of over N471 billion. This positive outcome was largely driven by strong performances from major companies like MTN Nigeria (MTNN) and Transcorp.
The market closed on a high note, with the All-Share Index rising by 75 basis points to settle at 103,137.99. This marks a continuation of the upward trend seen in recent trading sessions. Analysts at Atlass Portfolios Limited highlighted that this rally has added an impressive N1.08 trillion to investors’ wealth over just four trading days.
Market Activity Highlights
Despite the gains, overall trading activity showed a slowdown. The total number of shares traded dropped by 64.80%, while the total value of transactions fell by 26.79%. Data revealed that 440.32 million shares, worth N11.97 billion, were exchanged in 13,087 deals.
LASACO Assurance led the pack in terms of trading volume, accounting for 24.71% of the day’s total trades. Other notable contributors included Access Holdings (10.07%), United Bank for Africa (UBA) (6.38%), Zenith Bank (6.11%), and Universal Insurance (5.18%). Meanwhile, MTNN emerged as the top stock in terms of value, making up 19.29% of the total transaction value.
Biggest Winners and Losers
MTNN led the day’s gainers, with its share price rising by 10% as demand for telecom stocks surged. Other top performers included SCOA (up 9.93%), Omatek Ventures (9.88%), Universal Insurance (8.70%), and CAP Plc (8.32%). In total, 29 stocks recorded price gains.
On the flip side, 27 stocks saw declines. Eunisell was the biggest loser, with its share price dropping by 9.99%. Other decliners included NSL Tech (-9.88%), Sunu Assurances (-8.21%), LASACO Assurance (-6.23%), and Neimeth (-3.73%).
Sector Performance
The day’s trading showed mixed results across sectors:
- Insurance: Up by 1.03%.
- Banking: Gained 0.30%.
- Industrial: Edged higher by 0.03%.
- Consumer Goods: Dropped by 0.38%.
- Oil & Gas: Declined by 0.36%.
Final Numbers
The Nigerian stock market’s total capitalisation grew by N471.47 billion, closing at an impressive N63.33 trillion. This marks a robust performance for the market, reflecting renewed investor confidence. Investors will be watching closely to see if this positive momentum continues in the days ahead.
