Investors Gain ₦963 Billion as Nigerian Stock Market Sustains Bullish Run
The Nigerian equities market maintained its upward momentum on Tuesday, with investors raking in approximately ₦963 billion in fresh gains following sustained interest in heavyweight stocks across multiple sectors.
Market data obtained by PulseNets revealed that the overall capitalisation, which opened at ₦95.171 trillion, surged by ₦963 billion or 0.01%, closing the day at ₦96.134 trillion.
Similarly, the All-Share Index (ASI) advanced by 1,516.10 points or 0.01%, settling at 151,456.91, up from 149,940.81 posted on Monday.
According to figures learnt by PulseNets, gains in SCOA Nigeria, Omatek Ventures, Consolidated Hallmark Holdings, BUA Foods, Vitafoam, and over 23 other listed companies were the major drivers of Tuesday’s bullish performance.
However, despite the rally, market breadth closed negative, as 30 equities declined, while 28 posted gains.
Top Losers
Livingtrust Mortgage Bank topped the losers’ chart, shedding 9.91% to close at ₦4.00 per share. It was followed by Conoil, which dropped 5.83% to ₦190.70, and Africa Prudential, which depreciated by 5.69% to close at ₦14.10.
Further losses were recorded by Sovereign Trust Insurance, which slipped 3.95% to ₦3.65, and NPF Microfinance Bank, which declined 3.75% to ₦3.08 per share.
A market analyst told PulseNets, “Despite the brief pullback in some stocks, investor sentiment remains positive, and the market’s resilience reflects renewed confidence in the Nigerian economy.”
Top Gainers
On the gainers’ side, SCOA Nigeria led with a 7.74% jump to ₦7.10 per share. Omatek Ventures followed closely, climbing 7.48% to ₦1.58, while Consolidated Hallmark Holdings appreciated 6.70% to ₦4.78.
BUA Foods maintained its bullish streak with a 6.54% rise to ₦692.50, whereas Vitafoam gained 5.92% to close at ₦94.00 per share.
Market watchers spoke to PulseNets, noting that, “Consumer goods and industrial stocks continue to enjoy strong buy-side momentum, especially from institutional investors repositioning ahead of Q4 earnings.”
Trading Volume and Value
Trading activity remained robust, with 551.92 million shares worth ₦20.54 billion exchanged across 27,518 deals.
Fidelity Bank led in volume, accounting for 59.1 million shares valued at ₦1.18 billion. VFD Group followed with 39.31 million shares worth ₦424.7 million, while Japaul Gold recorded 37.7 million shares valued at ₦94.9 million.
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Other major movers included Access Corporation, which traded 37.4 million shares worth ₦950.1 million, and Guaranty Trust Holding Company (GTCO), which exchanged 31.4 million shares valued at ₦2.92 billion.
A Lagos-based trader told PulseNets, “Liquidity inflow from institutional investors continues to sustain market activity, particularly in the banking and consumer goods sectors.”
