Equities investors recorded a significant gain of over ₦60 billion on Tuesday as oil and telecom stocks staged a strong rally, reversing the week’s earlier losses. The Nigerian Exchange (NGX) closed on a positive note, with key performance indicators advancing by 0.10% and the year-to-date return climbing above 31%.
The All-Share Index (ASI) rose by 99.45 points to close at 98,206.97, driven by bargain hunting in large and mid-cap stocks, including AFRIPRUD, MTNN, and CONOIL. Trading activity surged, with 939.41 million units valued at ₦12.81 billion exchanged across 9,098 deals.
Despite the upbeat performance, market activity showed mixed trends. Trade volume jumped by 115.44%, while total trade value dipped by 0.40%. WAPIC led in volume, contributing 48.80% of total shares traded, followed by STERLINGNG (14.76%), JAPAULGOLD (3.24%), UBA (3.06%), and MTNN (2.63%).
In terms of value, MTNN was the top performer, accounting for 33.76% of total trade value. GOLDBREW led the gainers with a 9.93% price appreciation, closely followed by TANTALIZER (+9.77%), AFRIPRUD (+9.70%), ABCTRANS (+9.65%), and LEARNAFRCA (+9.56%).
Conversely, 20 stocks declined. JOHNHOLT led the losers, shedding 9.96%, with HMCALL (-9.91%), MORISON (-9.89%), and WAPCO (-7.80%) also recording losses.
The market breadth remained positive, with 37 gainers and 20 losers. Sector performance was mixed: the insurance sector led gains (+1.98%), followed by oil & gas (+1.64%) and consumer goods (+0.17%). However, the industrial (-0.84%) and banking (-0.20%) sectors closed in the red.
Overall, the equities market capitalisation increased by ₦60.28 billion, reaching ₦59.53 trillion, reflecting renewed investor confidence in the oil and telecom sectors.
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