The Nigerian Stock Exchange saw a reversal in market losses on Tuesday, with investors gaining N364bn as the All-Share Index surged by 0.57% to close at 104,549.74 points. This marked a 1.67% weekly gain and a 1.58% year-to-date increase, boosting market confidence. The market capitalization now stands at N64.5tn, reflecting positive investor sentiment.
Leading gainers included Aradel Holdings, which appreciated by 10% to N594.00 per share, alongside Chellarams (+9.98%), Stanbic IBTC Holdings (+9.92%), and University Press (+9.64%). However, some stocks saw declines, with Caverton Offshore Support Group dropping by 10% to N2.07 per share, followed by McNichols (-10%) and Thomas Wyatt Nigeria (-9.8%).
The trading session was marked by significant activity, with Universal Insurance recording the highest volume of 33.6 million shares, followed by Fidelity Bank and FCMB Group. The Oil & Gas Index led sectoral gains, rising by 3.34%, while the Banking Index increased by 0.75% and the Consumer Goods Index by 0.81%, highlighting strong performance in key sectors.
Source: PUNCH