KEY POINTS
• Market capitalisation rose by N297 billion to N162.682 trillion.
• The All Share Index gained 0.18 per cent to close at 250,614.66.
• Trading volume increased by 45.82 per cent to 837.26 million shares.
MAIN STORY
The Nigerian equities market extended its positive run on Tuesday as increased buying interest in banking, financial services and consumer goods stocks lifted the market by 0.18 per cent.
Market capitalisation rose to N162.682 trillion from N162.385 trillion recorded on Monday, representing a N297 billion increase.
The All Share Index also advanced by 457.86 points to close at 250,614.66.
The session was supported by buying interest in several medium and large capitalised stocks, including Sovereign Trust Insurance, Critical Minerals Financing Corp, Neimeth International Pharmaceutical, Cadbury Nigeria and Fortis Global Insurance.
The market’s year to date return consequently increased to 61.05 per cent, while market breadth remained positive with 36 stocks recording gains against 26 decliners.
Sovereign Trust Insurance topped the gainers with a 9.95 per cent increase to N2.21. Critical Minerals Financing Corp followed with a 9.82 per cent rise to N2.46, while Neimeth International Pharmaceutical gained 8.90 per cent to close at N7.95 per share.
Cadbury Nigeria rose 8.29 per cent to N60.10, while Fortis Global Insurance advanced 7.73 per cent to N1.95 per share.
The negative side was led by Multiverse Mining, which declined 9.86 per cent to N19.20. Haldane McCall fell 9.39 per cent to N2.99, while Champion Breweries dropped 8.68 per cent to N10 per share.
Mutual Benefits declined 8.38 per cent to N3.50, while AXA Mansard Insurance lost 6.67 per cent to close at N11.20 per share.
Trading activity also picked up during the session, with total volume increasing by 45.82 per cent to 837.26 million shares. The transactions were valued at N48.57 billion across 52,126 deals.
Fidelity Bank recorded the highest volume, with 165.43 million shares traded, accounting for 19.76 per cent of total market volume.
Zenith Bank recorded the highest value traded at N13.73 billion, representing 28.27 per cent of total value traded.
THE ISSUES
- The market’s gain reflected stronger demand for selected banking, financial services and consumer goods stocks, with buying activity concentrated in medium and large capitalised companies.
- The increase in market capitalisation and the All Share Index pushed the market’s year to date return to 61.05 per cent, extending the positive performance recorded during the year.
- Trading activity strengthened significantly, with volume rising by 45.82 per cent. Fidelity Bank dominated the number of shares traded, while Zenith Bank accounted for the largest value of transactions.
- Despite the overall market gain, declines remained widespread among 26 stocks, showing that the positive session was not uniform across all listed companies.
WHAT’S NEXT
The market will continue to be shaped by buying activity across banking, financial services, consumer goods and other actively traded stocks, with investor demand reflected in price movements and trading volumes.
BOTTOM LINE
Nigerian equities gained N297 billion on Tuesday as increased buying interest lifted the All Share Index by 0.18 per cent. Trading activity also strengthened, with volume rising to 837.26 million shares.
