The Nigerian equities market reached a historic milestone on Tuesday as its capitalization breached the ₦70 trillion mark for the first time, driven by widespread bullish sentiment. Investors collectively raked in a substantial gain of ₦1.04 trillion, as market indicators continued their upward trajectory.
The session concluded on a positive note, marking a continuation of the previous day’s momentum, with a significant 1.50% increase recorded in major performance metrics. Market optimism remained high, particularly due to persistent buying interest in mid- and large-cap equities such as AIRTELAFRI, NAHCO, and ARADEL, which drove the surge.
According to trading data released by the Nigerian Exchange (NGX), the All-Share Index (ASI) soared by 1,653.10 points, setting a fresh all-time high of 111,606.22 points.
Despite the upbeat performance, trading activity was relatively subdued. There was a slight 1.19% dip in trade volume and an 11.04% decline in trade value. Analysts at Atlass Portfolios Limited reported that a total of 409.57 million shares, valued at approximately ₦9.87 billion, changed hands in 15,992 transactions.
Leading the volume chart was CUSTODIAN, responsible for 9.23% of total market volume. It was followed by FIDELITYBK (9.08%), VERITASKAP (8.10%), ZENITHBANK (6.74%), and ACCESSCORP (5.82%). In terms of value, GTCO was the most active, accounting for 15.95% of total transaction value on the NGX.
AIRTELAFRI was the top performer of the day, posting a 10.00% gain. Other top gainers included OMATEK (+9.23%), CORNERST (+8.63%), NAHCO (+8.39%), UPL (+6.47%), and MANSARD (+5.88%), with 29 additional stocks registering price increases.
However, not all stocks shared in the market’s rally. A total of 21 equities declined in value. MCNICHOLS led the laggards with a 9.80% drop. Other significant decliners were CHAMPION (-7.38%), JAIZBANK (-4.46%), CADBURY (-4.45%), STERLINGNG (-3.08%), and JAPAULGOLD (-1.00%).
Overall, market breadth was positive, with 35 gainers outperforming 21 losers. Sector-wise, the trading session also ended on an upbeat note. The insurance sector recorded the biggest jump, growing by 2.23%, followed by the banking sector with 0.84%, the oil and gas sector at 0.76%, the industrial goods sector with a 0.46% uptick, and consumer goods, which edged up by 0.13%.
The Nigerian Exchange now stands at a new valuation of ₦70.38 trillion, reflecting the robustness of investor confidence and market fundamentals amid broader economic shifts.
