The Nigerian Exchange Limited (NGX) extended its impressive winning streak on Tuesday, with the market capitalization soaring by N764 billion. This robust performance was driven by sustained investor interest, particularly in blue-chip and consumer stocks.
The All-Share Index (ASI) saw a significant jump, adding 1,211.17 points (or 1.02%) to close at 119,790.82 points, up from 118,579.65 points. This pushed the overall market capitalization to a staggering N75.6 trillion from N74.8 trillion the previous day.
Market activity was vibrant, with 130 equities participating. A healthy majority of 61 stocks recorded gains, while only 23 saw declines.
Leading the pack of gainers were several stocks that surged by 10%, including Okomu Oil Palm Plc (closing at N748.00), Beta Glass Plc (N333.95), and Dangote Sugar Refinery Plc (N44.00). UPDC Plc also climbed 10% to N3.30. Other strong performers included Champion Breweries Plc, up 9.98% to N9.92, and Computer Warehouse Group Plc, which gained 9.90% to N10.55.
On the flip side, Daar Communications Plc topped the losers’ chart with a 7.81% drop to N0.59. Prestige Assurance Plc fell by 5.56% to N1.02, and Industrial and Medical Gases Nigeria Plc declined 4.30% to N33.40. NPF Microfinance Bank Plc and Aradel Holdings Plc also saw declines, closing at N2.03 (down 4.25%) and N515.00 (down 4.06%), respectively. First Bank of Nigeria Holdings Plc shed 3.93% to end the day at N26.90.
Increased Market Activity and Sectoral Gains
Trading volume and value both improved significantly. A total of 756.5 million shares worth N23.29 billion were exchanged in 22,206 deals. This represented a 16% increase in volume and a 9% rise in turnover compared to Monday’s session.
Royal Exchange Plc led in volume, trading 104 million units, followed by Fidelity Bank Plc (83.9 million shares), Access Holdings Plc (55.6 million shares), and Zenith Bank Plc (34.2 million shares).
Sectoral performance was overwhelmingly positive. The Industrial Goods Index recorded the highest return, climbing 3.13%, while the Consumer Goods Index appreciated by 2.01%. Other indices showing strong gains included the Top 30 Index (up 1.26%), the Pension Index (up 1.16%), the Premium Index (up 1.03%), and the Main Board Index (up 1.02%).
This positive trend follows a strong start to the week for the NGX, which saw a N279 billion gain on Monday, fueled by renewed investor interest across various sectors.
 continued its bullish run on Tuesday, gaining N764bn in market capitalization as investors bought into blue-chip and consumer stocks. Find out which stocks led the gains and declines.){kind=link}