The Nigerian stock market maintained its bullish momentum on Tuesday, with investors recording substantial gains of ₦1.045 trillion on the Nigerian Exchange Ltd.
Market capitalization increased by 1.56% to reach ₦68.105 trillion, up from Monday's close of ₦67.060 trillion. Similarly, the All-Share Index (ASI) climbed by 1,662.60 points or 1.56%, settling at 108,361.10 from the previous day's 106,698.50.
This upward trend was fueled by strong investor interest in medium and large-cap stocks, particularly in the financial sector, including Access Corporation, Guaranty Trust Holding Company, and United Bank for Africa.
The market showed positive breadth with 42 gainers outpacing 25 losers. Among top performers, Ecobank Transnational Corporation and Northern Nigeria Flour Mills both surged by 10%, closing at ₦25.85 and ₦82.50 per share respectively. Nestlé Nigeria also gained 10% to finish at ₦1,210, while Beta Glass rose 9.98% to ₦132.80 and Austinlaz increased by 9.94% to ₦1.88 per share.
On the declining side, Guinea Insurance led with an 8.70% drop to 63 kobo, followed by DAAR Communications which fell 6.78% to 55 kobo. VFD Group decreased by 6.59% to ₦17.00, while WAPIC Insurance and Regalins shed 6.07% and 4.69%, closing at ₦2.01 and 61 kobo respectively.
Trading volume stood at 475.46 million shares valued at ₦13.899 billion across 17,575 transactions, compared to Monday's 569.041 million shares worth ₦18.934 billion in 18,612 deals.
Access Corporation dominated trading activity with 103.92 million shares worth ₦2.2 billion, followed by Guaranty Trust Holding Company with 37.99 million shares valued at ₦2.422 billion. United Bank for Africa, Sterling Bank Nigeria, and Zenith Bank rounded out the top five most actively traded stocks with transactions worth ₦1.04 billion, ₦147.24 million, and ₦1.234 billion respectively.