Equities Market Recovers From Losses, Adds N482bn

The Nigerian equities market staged a recovery on Tuesday, reversing the previous session’s marginal decline as renewed buying interest lifted market capitalisation by N482 billion, closing at N159.993 trillion.

The benchmark All-Share Index (ASI) appreciated by 745.81 points, representing a 0.30 per cent gain, to close at 247,984.55 points.

The positive performance was driven by renewed demand for some large and medium capitalised stocks, including HBM Nigeria, Guinness Nigeria, Dangote Sugar Refinery, NASCON Allied Industries and NEM Insurance, which recorded price appreciation during the trading session.

Analysts attributed the rebound to improved investor sentiment and expectations surrounding the release of half-year financial results by listed companies.

Cowry Assets Management Limited said the market is expected to sustain its positive momentum as more companies publish their half-year earnings reports.

“We expect the market to maintain its positive momentum as more listed companies begin to release their half-year financial results, which could provide further direction for investor sentiment and market performance,” the firm stated.

Market breadth remained positive, with 34 stocks recording gains compared with 23 decliners, reflecting renewed buying activity across key sectors.

Lasaco Assurance emerged as the day’s top gainer, appreciating by 10 per cent to close at N2.20 per share. Linkage Assurance and Trans-Nationwide Express followed with gains of 9.93 per cent each, closing at N1.66 and N3.10 per share, respectively.

Sunu Assurance rose by 9.88 per cent to close at N3.56 per share, while Critical Minerals Financing Corporation (CMFC) gained 9.86 per cent to close at N3.79 per share.

Conversely, Meyer led the losers’ chart, declining by 9.97 per cent to close at N16.70 per share. MeCure Industries followed with a 9.94 per cent drop to close at N56.20 per share, while ABC Transport shed 9.93 per cent to close at N6.35 per share.

C&I Leasing declined by 8.66 per cent to close at N5.80, while Haldane McCall lost 8.21 per cent to close at N3.02 per share.

Trading activity improved during the session, with total volume of transactions rising by 6.11 per cent to 676.924 million units, valued at N36.429 billion, exchanged in 55,412 deals.

Access Holdings dominated trading activity with 87.536 million shares valued at N2.356 billion. FCMB Group followed with 68.708 million shares worth N810.576 million, while Chams Holdings Company recorded 31.011 million shares valued at N148.830 million.

United Capital traded 29.736 million shares worth N537.520 million, while Zenith Bank exchanged 26.460 million shares valued at N3.357 billion.

The recovery signals renewed confidence among investors as the market approaches the peak of corporate earnings announcements, with analysts expecting financial performance updates to shape trading direction in the coming weeks.