The Nigerian equities market rebounded on Tuesday, delivering a combined gain of N653 billion to investors as renewed buying interest in large- and mid-cap stocks reversed the previous session’s losses.
The positive momentum lifted the market capitalisation of the Nigerian Exchange (NGX) by 0.45 per cent to N147.217 trillion, up from N146.564 trillion recorded on Monday.
In the same vein, the All-Share Index (ASI) gained 1,017.26 points, or 0.45 per cent, to close at 229,419.18, compared with 228,401.92 in the previous trading session. The rally also pushed the market’s year-to-date (YTD) return to 47.43 per cent.
The market’s recovery was driven by strong investor demand for several equities, with Airtel Africa, Prestige Assurance, Cutix, Regency Alliance Insurance and Critical Minerals Financing Corp among the day’s top performers.
Despite the overall market gains, investor sentiment remained mixed as market breadth closed in negative territory, with 32 stocks declining against 19 gainers.
On the losers’ table, Custodian Investment recorded the steepest decline, shedding 9.98 per cent to close at N65.85 per share. PZ Cussons and RT Briscoe followed with losses of 9.95 per cent each, ending the session at N85.50 and N9.95 respectively.
Other notable decliners included UPDC, which fell 9.86 per cent to N3.20, while Honeywell Flour Mills dropped 9.78 per cent to settle at N14.30 per share.
Leading the gainers’ chart were Airtel Africa, Critical Minerals Financing Corp, and Prestige Assurance, each appreciating by the maximum 10 per cent to close at N4,794.60, N4.18, and N1.54 per share respectively.
Cutix advanced by 9.70 per cent to N2.94, while Regency Alliance Insurance gained 9.09 per cent to close at 84 kobo per share.
Trading activity, however, slowed compared with the previous session. Investors exchanged 966.66 million shares valued at N39.95 billion across 49,579 deals, representing an 8.44 per cent decline in trading volume.
Linkage Assurance emerged as the most actively traded stock by volume, with 95.97 million shares, accounting for 9.93 per cent of total shares traded during the session.
By value, Aradel Holdings dominated the market with transactions worth N11.59 billion, representing 29.02 per cent of the day’s total turnover.
