The Nigerian equities market extended its bullish run on Tuesday, with market capitalisation rising by N652 billion on sustained buying interest in several major stocks.
The market capitalisation, which opened at N157.747 trillion, gained 0.41 per cent to close at N158.399 trillion, according to trading data reported by the News Agency of Nigeria (NAN).
Similarly, the All-Share Index rose by 1,005.27 points, or 0.41 per cent, to close at 244,304.51 points, compared with 243,299.24 points recorded at the close of trading on Monday.
The latest gain further lifted the market’s year-to-date return to 56.99 per cent, reflecting the continued upward movement in domestic equities since the beginning of the year.
Market breadth was also positive, with 34 equities recording price gains against 26 decliners at the end of the session.
NGX Group led the gainers, appreciating by 9.95 per cent to close at N179 per share.
Aradel Holdings followed with a 9.62 per cent gain to N1,550, while Sovereign Trust Insurance rose by 9.50 per cent to N1.96 per share.
Mc Nicholas gained 9.09 per cent to close at N4.80, while International Breweries appreciated by 8.50 per cent to N10.85.
The session, however, also recorded significant losses in some counters.
Ecobank Transnational Incorporated led the decliners, shedding 10 per cent to close at N66.60 per share.
Trans-Nationwide Express followed with a 9.93 per cent decline to N2.45, while AVA Capital fell by 9.90 per cent to N4.55.
PZ Cussons lost 9.52 per cent to close at N75.10, while Prestige Assurance declined by 8.72 per cent to N1.36.
Trading activity also strengthened, with 505.12 million shares changing hands in 71,635 transactions.
The traded shares were valued at N36.29 billion, pointing to increased activity during the session.
Mutual Benefits led the volume chart with 39.01 million shares, accounting for 7.49 per cent of total shares traded.
Aradel Holdings recorded the highest transaction value, with deals worth N6.35 billion, representing 17.09 per cent of the session’s total.
The positive close extended the market’s recent upward momentum, with gains across several equities outweighing the losses recorded in some counters.
