Investors in the Nigerian Exchange (NGX) saw gains exceeding ₦60 billion on Tuesday, as a surge in oil and telecom stocks reversed the week’s earlier downturn. The equity market closed the trading session on a positive note, buoyed by renewed buying interest.
The NGX’s key performance indicators climbed by 0.10%, pushing the year-to-date return above 31%. The All-Share Index (ASI) gained 99.45 points to close at 98,206.97, signaling the return of bullish sentiment.
Market Highlights
The trading day saw significant bargain hunting, particularly in large and mid-cap stocks such as AFRIPRUD, MTNN, and CONOIL, alongside other smaller-cap stocks. While the total trading volume rose sharply by 115.44%, the total value of trades dipped slightly by 0.40%.
According to a market update by Atlass Portfolio Limited, a total of 939.41 million shares valued at ₦12.81 billion were exchanged across 9,098 deals. WAPIC emerged as the most traded stock by volume, contributing 48.80% to the total volume.
Other significant volume drivers included STERLINGNG (14.76%), JAPAULGOLD (3.24%), UBA (3.06%), and MTNN (2.63%). MTNN also led in value, accounting for 33.76% of the total traded value on the exchange.
Top Gainers and Losers
Leading the gainers’ chart, GOLDBREW posted a 9.93% price increase, followed by TANTALIZER (+9.77%), AFRIPRUD (+9.70%), ABCTRANS (+9.65%), and LEARNAFRCA (+9.56%). A total of 37 stocks recorded gains.
On the flip side, 20 stocks closed lower, with JOHNHOLT recording the steepest decline of -9.96%. Other notable decliners included HMCALL (-9.91%), MORISON (-9.89%), WAPCO (-7.80%), and JAPAULGOLD (-2.24%).
Sector Performance
Three of the five major market sectors closed in positive territory. The insurance sector led with a 1.98% gain, followed by oil & gas (+1.64%) and consumer goods (+0.17%). Meanwhile, the industrial sector and banking sector dipped by 0.84% and 0.20%, respectively.
Overall, the equities market capitalization rose by ₦60.28 billion to close at ₦59.53 trillion.
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