The Nigerian Exchange (NGX) closed higher on Tuesday as sustained bargain hunting lifted equity values by approximately ₦469 billion, extending the market’s winning streak.
The benchmark All-Share Index (ASI) advanced for the 16th consecutive trading session, reflecting strong participation from both retail and institutional investors. Market sentiment remained upbeat as investors selectively accumulated stocks across key sectors.
According to official trading data, the NGX All-Share Index rose by 0.46 percent to settle at 159,951.08 points, while total market capitalization climbed to ₦102.28 trillion, underscoring the scale of value added during the session.
Trading activity produced mixed signals. Share volume increased by 7.12 percent to 745.2 million units, while transaction value rose by 4.48 percent to ₦19.4 billion. However, the total number of deals declined by 5.30 percent to 53,632 transactions, suggesting selective positioning by market participants.
Market breadth remained firmly positive, closing at a ratio of 3.05 to 1, as gainers significantly outnumbered losers. A total of 64 stocks recorded price appreciation, while 21 equities closed in negative territory.
Heavyweight stocks played a key role in driving market performance. Gains in Dangote Cement, which advanced by 4.27 percent, and Stanbic IBTC Holdings, which surged by 8.95 percent, more than offset losses recorded in Aradel Holdings (-4.79 percent) and United Bank for Africa (-6.22 percent).
Leading the day’s gainers were Jaiz Bank, Meyer, and ABC Transport, each posting the maximum allowable daily gain of around 10 percent. On the downside, Alex (-9.96 percent), Learn Africa (-9.16 percent), and Oando (-7.69 percent) topped the list of declining stocks.
Sectoral indices ended the session on a mixed footing. The Insurance Index emerged as the best-performing sector, posting a strong 3.81 percent gain. The Industrial Goods Index followed closely, rising by 2.68 percent.
Conversely, the Oil and Gas Index led sectoral decliners with a 2.60 percent drop, reflecting profit-taking in energy stocks. The Consumer Goods Index declined by 0.54 percent, the Commodity sector fell by 0.49 percent, while the Banking Index edged slightly lower by 0.05 percent.
Despite sectoral divergence, analysts say the sustained upward momentum in the broader market reflects improving investor confidence and continued rotation into undervalued equities.
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