The Nigerian equities market extended its bullish run on Tuesday, with investors gaining N652 billion amid sustained buying interest in major stocks.
NGX Group, Aradel Holdings, Sovereign Trust Insurance, Mc Nicholas, International Breweries and 29 other equities drove the gains.
The market capitalisation opened at N157.747 trillion, added N652 billion, representing a 0.41 per cent increase, to close at N158.399 trillion.
Similarly, the All-Share Index rose by 1,005.27 points, representing 0.41 per cent, to close at 244,304.51 points.
The index had closed at 243,299.24 points on Monday, reflecting continued positive sentiment among investors in the domestic equities market.
The latest performance strengthened the market’s year-to-date return to 56.99 per cent, indicating sustained gains since the beginning of the year.
Market breadth also closed positive, with 34 equities recording gains compared with 26 decliners at the end of Tuesday’s trading session.
NGX Group led the gainers’ chart, appreciating by 9.95 per cent to close at N179 per share.
Aradel Holdings followed, rising by 9.62 per cent to finish at N1,550 per share, while Sovereign Trust Insurance gained 9.50 per cent.
Sovereign Trust Insurance closed at N1.96 per share, reflecting strong investor demand during the trading session.
Mc Nicholas advanced by 9.09 per cent to close at N4.80, while International Breweries gained 8.50 per cent to N10.85.
On the losers’ chart, Ecobank Transnational Incorporated led the decliners, shedding 10 per cent to close at N66.60 per share.
Trans-Nationwide Express followed with a 9.93 per cent decline to N2.45, while AVA Capital fell by 9.90 per cent to N4.55.
PZ Cussons fell 9.52 per cent to finish at N75.10, while Prestige Assurance dropped 8.72 per cent to close at N1.36.
Trading activity also strengthened during the session, with total volume rising to 505.12 million shares across 71,635 transactions.
The shares were valued at N36.29 billion, indicating increased market participation and sustained investor activity during Tuesday’s trading session.
Mutual Benefits led trading volume with 39.01 million shares, representing 7.49 per cent of the total volume traded.
Aradel Holdings recorded the highest transaction value, with trades worth N6.35 billion, accounting for 17.09 per cent of the session’s total.
The positive close extended the market’s recent upward momentum, supported by gains across several major equities despite significant losses recorded by some stocks.
(NAN)
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