The Nigerian equities market staged a recovery on Tuesday, reversing the previous session’s marginal decline as renewed buying interest lifted market capitalisation by ₦482 billion to close at ₦159.993 trillion.
The benchmark All-Share Index (ASI) gained 745.81 points, representing a 0.30% rise, to close at 247,984.55 points.
The rebound was driven by renewed demand for large and medium-cap stocks, including HBM Nigeria, Guinness Nigeria, Dangote Sugar Refinery, NASCON Allied Industries and NEM Insurance, all of which recorded price appreciation during the session.
Analysts attributed the recovery to improved investor sentiment ahead of half-year financial results from listed companies.
Cowry Assets Management Limited said the market is likely to sustain its momentum as more firms release their earnings.
“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 said.
Market breadth stayed positive, with 34 stocks gaining against 23 decliners, pointing to renewed buying across key sectors.
Lasaco Assurance Leads Gainers as Trading Volume Rises
Lasaco Assurance topped the gainers’ chart, rising 10% to close at ₦2.20 per share.
Linkage Assurance and Trans-Nationwide Express followed with gains of 9.93% each, closing at ₦1.66 and ₦3.10 respectively, while Sunu Assurance rose 9.88% to ₦3.56 and Critical Minerals Financing Corporation gained 9.86% to ₦3.79.
On the losing side, Meyer led with a 9.97% decline to ₦16.70, followed by MeCure Industries, down 9.94% to ₦56.20, and ABC Transport, which shed 9.93% to close at ₦6.35.
C&I Leasing dropped 8.66% to ₦5.80, while Haldane McCall lost 8.21% to close at ₦3.02.
Total trading volume rose 6.11% to 676.924 million units, valued at ₦36.429 billion across 55,412 deals.
Access Holdings led activity with 87.536 million shares worth ₦2.356 billion, followed by FCMB Group with 68.708 million shares valued at ₦810.576 million, and Chams Holdings Company with 31.011 million shares worth ₦148.830 million.
United Capital and Zenith Bank also featured among the most actively traded stocks, exchanging shares worth ₦537.520 million and ₦3.357 billion respectively.
The recovery signals renewed investor confidence as the market approaches the peak of corporate earnings season, with analysts expecting upcoming results to shape trading direction in the coming weeks.
Congratulations to those who have cashed in on their profits
Wow, a great congratulations to the NSE. Good news to investors especially for the 34 stocks that did very well.
We look forward to the listed companies half-year financial results. I wish the 23 stocks that declined success in the following days.