The Nigerian stock market extended its upward momentum from the previous session, generating an additional N203 billion in investor wealth by the close of trading on Tuesday.
This positive performance was driven by notable price increases in shares such as NCR Nigeria, Skye Shelter Fund Plc, and Berger Paints Plc, which attracted significant market attention.
The All-Share Index (ASI), a key indicator of market performance, climbed to 141,761.36 points, up from 141,439.77 points recorded the day before.
Following approximately five hours of trading activity, the total market capitalization rose to N89.6 trillion, marking an increase from Monday’s N89.4 trillion.
Despite the gains, market breadth showed a slight imbalance with 27 stocks advancing, 33 declining, and 87 remaining flat across 28,845 transactions.
Top Performing Stocks and Market Movers
NCR Nigeria led the gainers with a 10% surge, closing at N11.55 per share, up from N10.50. Skye Shelter Fund Plc followed closely with a 9.99% increase to N301.55, while Berger Paints Plc rose by 9.06% to close at N34.90, compared to its previous N32.00.
Conversely, some stocks experienced notable declines. Legend Internet’s shares dropped by 10% to N5.40 from N6.00, Secure Electronic Technology fell 9.26% to N0.98, and Cutix Nigeria Plc decreased by 8.97% to N3.55 from N3.90.
Trading Volume and Value Highlights
In terms of trading volume, First City Monument Bank Plc (FCMB) dominated with 71 million shares exchanged over 532 deals. Veritas Kapital Assurance Plc followed with 66 million shares traded in 517 transactions, while AIICO Insurance Plc recorded 35 million shares across 1,402 deals.
Regarding value, Lafarge Wapco (WAPCO) led with stock trades worth N1.6 billion in 353 deals. MTN Nigeria (MTNN) closely trailed, with equities valued at N1.4 billion changing hands in 1,339 deals. Guaranty Trust Holding Plc (GTCO) also featured prominently, trading shares worth N1.1 billion in 1,124 deals.
Market Outlook and Investor Sentiment
Despite the overall positive trend, the market’s mixed breadth suggests cautious investor sentiment amid ongoing economic uncertainties. Analysts note that while select sectors show resilience, broader market participation remains uneven.
Recent data from the Nigerian Exchange Group (NGX) indicates that market capitalization has grown by approximately 0.22% over the past week, reflecting steady but moderate investor confidence.
As the market navigates these dynamics, investors are advised to monitor sector-specific developments and corporate earnings reports for clearer signals on future market direction.
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