Stocks Gain N307bn As Market Capitalisation Climbs To N159.1trn

The Nigerian equities market extended its bullish momentum on Tuesday, adding N307 billion in value as sustained buying interest pushed total market capitalisation to N159.12 trillion.

The positive performance saw the Nigerian Exchange (NGX) All-Share Index (ASI) rise by 475.60 points, or 0.19 per cent, to close at 246,659.56 points, while market capitalisation advanced from N158.812 trillion to N159.119 trillion.

The rally was largely driven by gains in major large and mid-cap stocks, including Nigerian Exchange Group, MTN Nigeria Communications (MTNN), BUA Cement, Ikeja Hotel and The Initiates Plc (TIP), reflecting sustained investor confidence across key sectors.

Analysts at Cowry Assets Management Limited said the market is likely to maintain its positive trajectory, supported by strategic portfolio rebalancing and continued investor repositioning.

“We expect the market’s positive momentum to persist, supported by continued strategic investor repositioning and portfolio rebalancing. Nevertheless, intermittent profit-taking in recently appreciated stocks could temper the pace of further gains in the near term,” the firm stated.

Market breadth remained positive, with 33 stocks appreciating against 20 decliners.

Thomas Wyatt Nigeria emerged as the day’s best-performing stock, gaining 9.73 per cent to close at N3.72 per share. Ikeja Hotel appreciated by 9.53 per cent to N46.55, while The Initiates Plc rose 9.52 per cent to N33.95 per share.

Neimeth International Pharmaceuticals gained 9.47 per cent to close at N9.25, while FTN Cocoa Processors advanced by 8.72 per cent to N10.10 per share.

On the losers’ chart, MeCure Industries recorded the steepest decline, shedding 9.95 per cent to close at N76.95 per share. Haldane McCall fell by 9.86 per cent to N3.29, while Critical Minerals Financing Corporation (CMFC) lost 9.85 per cent to close at N3.02 per share.

Trans Nationwide Express declined by 9.68 per cent to N2.80 per share, while Academy Press dropped by 9.38 per cent to close at N5.80 per share.

Trading activity also strengthened, with total volume traded increasing by 11.4 per cent to 932.45 million shares valued at N49.28 billion across 50,059 deals.

Access Holdings led the activity chart with 336.62 million shares worth N8.65 billion. FCMB Group followed with 88.82 million shares valued at N1.02 billion, while First HoldCo traded 72.72 million shares worth N7.67 billion.