The Nigerian stock market sustained its bullish momentum on Tuesday, with investors recording a combined gain of N1.838 trillion at the close of trading.
Data from the Nigerian Exchange Limited (NGX) showed that market capitalization increased from N111.658 trillion to N113.496 trillion, representing a 1.65 percent rise. Similarly, the All-Share Index (ASI) advanced from 173,946.22 points to 176,809.43 points, reflecting a gain of 2,863.21 points, or 1.65 percent.
Market analysts attributed the positive performance to sustained investor interest in key equities, including Etranzact, John Holt, Deap Capital Management, Omatek Ventures, Vitafoam, and several others.
As a result of the rally, the NGX year-to-date (YTD) return climbed to 13.62 percent. Market breadth closed firmly positive, with 66 gainers outperforming 22 losers.
On the gainers’ table, Etranzact, John Holt, Deap Capital Management, and Omatek Ventures led with a 10 percent appreciation each, closing at N20.35, N8.80, N8.25, and N3.19 per share, respectively.
On the flip side, Abbey Mortgage Bank topped the losers’ chart with a 9.82 percent decline to N12.40 per share. Other decliners included Skyway Aviation Handling Company, Guinea Insurance, Consolidated Hallmark Holdings, and Livestock Feeds.
Trading activity also improved significantly during the session. A total of 1.3 billion shares valued at N50.4 billion were exchanged in 58,965 deals. This compares with 775.18 million shares worth N27.9 billion traded in 65,960 transactions on Monday, indicating a 35 percent increase in volume and a 75 percent surge in value, despite an 11 percent drop in the number of deals.
Deap Capital Management recorded the highest trading volume, with 283.12 million shares exchanged, accounting for 21.73 percent of total market volume. MTN Nigeria led in value terms, with trades worth N6.80 billion, representing 13.49 percent of the day’s total traded value.
The latest performance follows Monday’s trading session, during which investors posted a N1.4 trillion gain, further reinforcing the market’s ongoing bullish trajectory.