The Nigerian stock market returned to positive territory on Tuesday, with investors recording a massive ₦720 billion gain as renewed buying interest boosted the performance of several major stocks.
At the close of trading, the market capitalisation increased by 0.46 per cent, rising from ₦155.129 trillion to ₦155.849 trillion, while the All-Share Index (ASI) climbed by 1,121.33 points to settle at 242,870.44.
The market rally was driven by strong performances in banking, insurance, consumer goods and real estate stocks, with financial companies leading the day’s gainers.
The market’s Year-to-Date (YTD) return also improved to 56.07 per cent, while trading ended on a positive note with 26 gainers and 23 losers.
Learn Africa topped the gainers’ chart after its share price rose by 10 per cent to ₦9.90. First HoldCo followed closely with a 9.98 per cent increase to close at ₦72.15, while Thomas Wyatt Nigeria, Nigeria Real Estate Investment Trust (N-REIT) and RT Briscoe also posted impressive gains.
On the losing side, International Energy Insurance recorded the biggest decline after shedding 9.86 per cent to close at ₦4.66. Other notable losers included Legend Internet, Fortis Global Insurance, FTN Cocoa Processors and International Breweries.
Trading activity also strengthened during the session as investors exchanged 634.78 million shares valued at ₦53.34 billion across 42,494 deals, representing a significant increase from the previous trading day.
First HoldCo emerged as the most actively traded stock, accounting for more than half of the day’s total trading volume after investors exchanged 326.92 million shares worth ₦22.33 billion.
The latest rebound reflects renewed investor confidence in the Nigerian equities market, particularly in the financial sector, as market participants continue to position themselves for stronger returns.
Source: NAN.
