Nigerian Stock Market Extends Gains as ASI Rises 0.54% on Banking, Industrial Stocks Rally
The Nigerian Exchange Limited (NGX) closed in positive territory on Tuesday as sustained buying interest in banking and industrial stocks lifted the All-Share Index (ASI) by 0.54 percent.
The ASI advanced to 202,559.41 points amid continued investor confidence and strong demand for fundamentally sound equities. Market capitalization of listed equities rose to ₦130.03 trillion to reinforce the bullish sentiment observed across the trading session.
A total of 62,654 deals were executed with investors trading 1.75 billion shares valued at ₦88.10 billion. The strong turnover highlights increased market participation from both institutional and retail investors.
The bond market capitalization stood at ₦48.14 trillion, while the Exchange Traded Funds (ETF) segment closed at ₦110.97 billion, indicating stability across non-equity asset classes.
Market performance was driven by gains in key sectors, particularly banking and industrial goods, which outweighed losses recorded in select consumer goods and oil palm stocks.
BUA Cement Plc led the gainers’ chart, rising by 10.00 percent to close at ₦326.70 per share. Premier Paints Plc followed with a 9.86 percent gain to settle at ₦23.40.
Zenith Bank Plc advanced by 7.91 percent to ₦111.15, supported by strong investor demand. Nigerian Aviation Handling Company (NAHCO) gained 7.14 percent to close at ₦175.60, while RT Briscoe Plc appreciated by 6.67 percent to ₦11.20.
On the losers’ table, FGSUK2032S5 recorded the highest decline, shedding 11.72 percent to close at ₦90.05. Presco Plc dropped by 10.00 percent to ₦1,875.60 amid profit-taking.
Caverton Offshore Support Group declined by 8.70 percent to ₦6.30, while NSL Tech Plc and Guinea Insurance Plc lost 7.69 percent and 6.43 percent to close at ₦1.20 and ₦1.31, respectively.
In terms of market activity, FCMB Group Plc led by volume with 516.23 million shares traded, valued at ₦6.55 billion. Wema Bank Plc followed with 213.39 million shares worth ₦5.57 billion.
Zenith Bank Plc dominated by value, recording ₦18.10 billion across 163.11 million shares. Access Holdings Plc and Guaranty Trust Holding Company Plc also featured prominently with trades valued at ₦3.17 billion and ₦12.36 billion, respectively.
The ETF segment recorded notable price movements. NewGold ETF gained ₦2,999.97 to close at ₦100,000.00, while SIAML ETF 40 rose by ₦637.31 to ₦8,137.30.
Stanbic ETF 30 increased by ₦320.00 to ₦3,520.00, GreenW ETF advanced by ₦39.00 to ₦744.00, and Meristem Growth ETF appreciated by ₦37.00 to ₦409.00, reflecting positive sentiment in the ETF space.
In the fixed income market, instruments such as CP26NGNGS1B, DAN2029S2TB, DIF2029S1TA, FG162029S1, and FG172035S1 closed flat, indicating stable pricing and limited volatility in the bond segment.
The overall market outlook remains positive as investors continue to position ahead of corporate earnings releases and dividend declarations.
Analysts expect sustained interest in banking and industrial stocks to support market performance in the near term.
However, intermittent profit-taking in high-performing equities may introduce mild volatility as investors rebalance their portfolios.
