The Nigerian stock market staged a modest comeback on Tuesday, recovering N20 billion in market value, with notable contributions from Nestle Nigeria Plc, Tripple Gee and Company Plc, and Regency Alliance Insurance Plc.
At the end of the trading session on the Nigerian Exchange Limited (NGX), the All-Share Index (ASI) advanced by 32.64 points—representing a 0.03% increase—to settle at 109,730.47. Correspondingly, the market capitalisation edged higher to N69.031 trillion, up from the previous day’s N69.011 trillion.
Driving the positive market sentiment were gains recorded in the consumer goods and insurance sectors. The NGX Consumer Goods Index climbed 2.5%, while the Insurance Index appreciated by 1.41%.
Trading activity saw a slight improvement as investors exchanged 497.06 million shares valued at N13.21 billion in 18,795 deals. This reflected a 2% uptick in trading volume and a 16% increase in turnover, although the total number of deals dropped by 24% from the previous session.
Leading the gainers’ table, Nestle Nigeria Plc recorded a 10% increase in its share price, closing at N1,464.10. It was closely followed by Tripple Gee and Company Plc, which also appreciated by 10% to end the day at N2.20. Regency Alliance Insurance Plc mirrored this upward movement with a 10% gain to close at N0.66. Other top performers included Tantalizers Plc (+9.88%, N2.78), Multiverse Mining and Exploration Plc (+9.60%, N9.70), and John Holt Plc (+9.42%, N7.55).
Conversely, Berger Paints Nigeria Plc led the laggards with a 9.98% drop, closing at N21.20. Mutual Benefits Assurance Plc fell by 9.80% to N0.92, while Associated Bus Company Plc shed 9.77% to close at N2.40. Aradel Holdings Plc lost 8.55% to close at N460.00, Caverton Offshore Support Group Plc decreased by 7.09% to N3.80, and Meyer Plc dropped 6.74% to N9.00.
On the volume chart, Fidelity Bank Plc led with 60.2 million shares traded. United Bank for Africa Plc followed with 36.4 million shares, then Custodian Investment Plc (35.6 million shares) and Tantalizers Plc (27.6 million shares).
The sectoral performance showed mixed results: the NGX 30 Index advanced by 0.3%, the Main Board Index improved by 0.08%, and the Industrial Index recorded a marginal 0.03% rise. In contrast, the Premium Board Index slipped by 0.07%.
So far, the market has posted a one-week gain of 0.89%, a four-week gain of 5.27%, and a year-to-date return of 6.61%. This rebound comes after the market began the week with an N8 billion decline in value, despite more robust trading activity.
