The Nigerian equity market closed positively on Tuesday, recording a N136bn gain driven by key stocks such as Lafarge WAPCO. The market capitalization of the Nigerian Stock Exchange rose by 0.23% to close at N59.4tn, supported by a turnover of N6.42bn from 333.95 million shares traded across 9,187 deals.
This performance reflected a mixed trend: a 19% decline in trading volume compared to the previous session, but a 20% increase in turnover and a 2% rise in deal count. Similarly, the All-Share Index climbed 0.23% to 97,972.33 points, bringing its year-to-date growth to 31.02%.
Market breadth closed on a positive note with 38 stocks gaining value, while 23 stocks recorded losses. Lafarge WAPCO led the gainers, achieving a 10% surge to close at N50.60 per share. Unilever Nigeria also recorded a 10% increase, closing at N26.95 per share. Other top gainers included Eunisell Interlinked PLC and SCOA Nigeria, each rising 9.94% to N14.49 and N1.88 per share, respectively. JOHNHOLT advanced 9.89% to N9.33, while Tantalizer gained 9.76%, ending at N0.90 per share.
On the downside, PZ Cussons Nigeria emerged as the biggest loser, falling 9.82% to N22.50 per share. Initiates PLC followed with an 8.7% drop to N2.10, while Berger Paints shed 7.71% to close at N17.35. Honeywell Flour Mills and Consolidated Hallmark Insurance also declined by 4.85% and 4.5%, closing at N4.12 and N1.91, respectively.
In trading volume, Access Holdings topped the chart with 37.8 million shares traded. Japaul Gold followed with 26.5 million shares, Chams recorded 23.7 million shares, and Consolidated Hallmark Holdings traded 16.4 million shares.
Sectoral indices also performed well, with the Insurance Index leading at a 1.9% rise. The Industrial Index grew by 0.55%, the Premium Index added 0.54%, while the Oil & Gas and Pension indices recorded gains of 0.35% and 0.28%, respectively. The Top 30 Index also advanced by 0.22%.
Earlier this week, the market continued its bullish trajectory, achieving an N15bn gain on Monday. The All-Share Index rose marginally by 0.03% to 97,747.27 points, while market capitalization edged up by 0.03% to close at N59.23tn.
The positive momentum reflects sustained investor confidence and highlights the opportunities for businesses and MSMEs across Africa to explore investment prospects in Nigeria’s growing stock market.
