Nigeria’s equity market staged a rebound on Tuesday after a bearish spell, with investors pushing up share prices enough to add a substantial N917 billion to overall market value. Data from Nigerian Exchange Limited showed that market capitalisation increased by 0.57%—equivalent to N917 billion—rising from N160.362 trillion to N161.279 trillion. The All-Share Index (ASI) also moved higher, climbing by 1,430.59 points (0.57%) to close at 251,635.42, up from 250,204.83. With the rally, the year-to-date (YtD) return strengthened to 61.71%.
Despite the headline gains, participation across the market ended mixed. Market breadth finished in the red, with 33 stocks closing lower compared with 27 that finished higher. Among the best-performing names, FTN Cocoa Processors Plc led the gainers’ list, advancing 10% to settle at N9.79 per share. Zichis Agro-Allied Industries Ltd followed with a rise of 9.97% to close at N29.13, while Skyway Aviation Handling Company Plc gained 9.79% to end at N156.95. On the other side, Unilever Nigeria Plc topped the losers’ chart, dropping 10% to finish at N153 per share. It was followed by Trans-Nationwide Express Plc and Sovereign Trust Insurance Plc, which also ended the session among the decliners.
Trading activity, however, cooled compared with the previous session. Total market volume, value and number of deals all declined, as investors exchanged 703.95 million shares worth N32.15 billion across 64,539 transactions. This contrasted with Monday’s figures of 800.46 million shares valued at N37.05 billion across 87,096 deals. Access Holdings Plc recorded the highest trading volume, with 88.41 million shares changing hands—about 12.56% of the day’s total share volume. In terms of value, Zenith Bank Plc attracted the most capital, with trades worth N3.99 billion, representing 12.42% of the market’s total traded value for the day.
