The Nigerian equities market continued its upward trend on Tuesday, with the NGX All-Share Index rising by 0.18 per cent to close at 250,614.66 points. This growth lifted the year-to-date gain to 61.05 per cent. The market capitalisation also saw a significant increase, rising by ₦297.21 billion to ₦162.68 trillion. This surge is attributed to sustained buying interest across key sectors, despite some pockets of profit-taking.
Market breadth remained positive, with 36 stocks recording price gains against 26 decliners, representing a breadth ratio of 1.4x. The top gainers included Sovereign Insurance, Consolidated Hallmark Insurance, Neimeth International Pharmaceuticals, Cadbury Nigeria, and F&G Insurance. On the other hand, Multiverse Mining and Exploration, Haldane McCall, Champion Breweries, Mutual Benefits Assurance, and Mansard Insurance recorded the biggest declines.
Sectoral performance was mixed, but gains in major sectors kept the overall market in positive territory. The Banking Index led the sectoral advance, rising 2.50 per cent, while the Industrial Goods Index gained 1.20 per cent. The Consumer Goods and Oil/Gas indices also edged higher by 0.07 per cent and 0.03 per cent respectively. However, the Insurance Index fell 1.94 per cent, providing a major drag on the market.
Trading activity strengthened significantly in terms of volume and value, although the number of transactions fell. A total of 837.26 million shares worth ₦48.57 billion changed hands, representing increases of 45.82 per cent and 27.60 per cent respectively in volume and value traded. However, the number of deals dropped 24.08 per cent to 52,126 transactions.
The latest advance extends the market’s strong 2026 rally, with the ASI now delivering a 61.05 per cent return since the beginning of the year. Market analysts attributed the positive sentiment to investors' maintained appetite for equities. However, they noted that profit-taking after the market’s substantial year-to-date appreciation could limit the pace of further gains.
The combination of rising market capitalisation, positive breadth, and stronger turnover suggests that buying interest remains evident. Investors are rotating across sectors and individual stocks, contributing to the market's resilience. Tuesday’s performance reinforces the market’s recent resilience, with the ASI continuing to set new highs despite intermittent declines in some sectors and stocks.
Domestic investors continue to dominate trades, with a significant 90% of transactions. The NGX transactions hit ₦13.25 trillion, further solidifying the market's growth. As the market continues to evolve, investors are keeping a close eye on key sectors and stocks, positioning themselves for potential gains.
Key points
- The NGX All-Share Index rose by 0.18 per cent to close at 250,614.66 points.
- Market capitalisation increased by ₦297.21 billion to ₦162.68 trillion.
- The Banking Index led the sectoral advance, rising 2.50 per cent.
