The Nigerian Trade (NGX) prolonged its Monday rally on Tuesday as robust demand for large-cap shares and exchange-traded merchandise pushed fairness market capitalisation greater by over ₦1.6 trillion.
The NGX All-Share Index (ASI) superior to 165,837.32 factors, up from 163,244.69 factors on Monday, January 12, reflecting sustained bullish momentum throughout the market.
The motion represents a transparent continuation of the upward pattern established within the prior session.
Market Capitalisation Expands Additional
Fairness market capitalisation elevated to ₦106.18 trillion, in contrast with ₦104.52 trillion on January 12, translating to a ₦1.66 trillion single-day achieve.
This enlargement underscores intensified capital inflows, significantly into heavyweight and high-liquidity shares.
Fairness Market Cap: ₦106.18 trillion (Jan 13) vs ₦104.52 trillion (Jan 12)
Bond Market Cap: ₦51.55 trillion vs ₦51.59 trillion
ETF Market Cap: ₦60.69 billion vs ₦58.65 billion
Whereas bond capitalisation edged barely decrease, the ETF section recorded a notable enhance, confirming rising institutional curiosity in diversified devices.
Buying and selling Worth Surges Regardless of Slight Quantity Dip
Buying and selling exercise on January 13 mirrored a shift towards higher-value transactions.
Quantity Traded: 1.13 billion shares vs 1.15 billion shares on Jan 12
Worth Traded: ₦33.55 billion vs ₦19.23 billion
Offers Executed: 49,216 vs 59,359
Though complete quantity and deal depend declined modestly, the sharp rise in worth traded signifies stronger positioning in high-priced and large-cap shares, significantly in telecommunications and banking.
MTNN Drives Index Larger After Flat Prior Session
The market’s advance on January 13 was materially influenced by MTN Nigeria (MTNN), which gained 10 % to shut at ₦605.00, after remaining inactive within the earlier session.
The sharp transfer in MTNN marked a transparent escalation from January 12, when beneficial properties had been largely pushed by small- and mid-cap shares equivalent to eTranzact, UPDC, and RT Briscoe. The shift towards large-cap management strengthened the sustainability of the rally.
PZ Cussons, Caverton, Deap Capital, and eTranzact additionally recorded most value appreciation, reinforcing momentum throughout sectors.
Sector Rotation Turns into Extra Outlined
In contrast with January 12, when insurance coverage shares dominated buying and selling quantity, January 13 noticed stronger participation from banking and telecom shares.
Sovereign Belief Insurance coverage remained essentially the most traded by quantity, growing turnover from 307 million shares to 343 million shares.
Entry Holdings entered the highest exercise checklist, recording ₦1.98 billion in worth, in contrast with Fidelity Bank’s dominance on January 12.
eTranzact sustained momentum for a second consecutive session, signaling continued speculative and institutional curiosity.
Insurance coverage Weak spot Persists
Insurance coverage shares continued to face promote strain, extending the blended efficiency seen on January 12.
Common Insurance coverage, Status Assurance, Regal Insurance coverage, Academy Press, and Royal Trade closed decrease, reflecting ongoing profit-taking and weak demand in low-priced counters. The sample confirms that whereas liquidity stays robust, investor choice is more and more selective.
ETFs Prolong Monday’s Breakout
The ETF section strengthened additional after Monday’s breakout.
SIAMLETF40, GREENWETF, VSPBONDETF, and VETBANK all recorded recent beneficial properties, whereas NEWGOLD edged greater, reinforcing its function as a hedge amid rising fairness valuations.
The rise in ETF market capitalisation from ₦58.65 billion to ₦60.69 billion confirms sustained institutional accumulation following the January 12 advance.
Market Outlook
The January 13 session represents a transparent continuation and strengthening of the January 12 rally, with management rotating from speculative small-cap shares to heavyweight names equivalent to MTNN and Entry Holdings.
The mixture of rising market capitalisation, greater worth traded, and increasing ETF participation suggests rising confidence within the sustainability of the uptrend. Nevertheless, persistent weak point in insurance coverage shares highlights the market’s selective nature.
With fairness capitalisation now firmly above ₦106 trillion, investor focus is anticipated to stay on large-cap shares, liquid banking names, and ETFs that present broad market publicity because the buying and selling week progresses.
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