Nigerian Equities Market Extends Bullish Run, Gains ₦111bn Amid Strong Investor Sentiment

The Nigerian stock market continued its bullish momentum on Tuesday, adding ₦111 billion to investors’ wealth as buying pressure in Julius Berger Plc and 49 other stocks lifted the All-Share Index (ASI). The ASI climbed by 175.12 points, or 0.12%, to close at 146,055.89 points, while market capitalisation settled at ₦92.405 trillion.

The rally was powered by notable price gains in large and mid-cap stocks, including Julius Berger, Lafarge Africa, NEM Insurance, AXA Mansard Insurance, and Champion Breweries. Afrinvest Limited analysts projected that the positive run would likely continue, citing improved investor confidence as a key driver.

Market breadth remained positive, with 50 stocks advancing against 29 losers. The top gainers included Associated Bus Company, Champion Breweries, Ellah Lakes, Sunu Assurance, AXA Mansard Insurance, Prestige Assurance, Wapic Insurance, and The Initiates Plc (TIP), each posting a 10% gain. Julius Berger surged 9.99% to ₦147.60, while Mutual Benefits Assurance rose 9.97% to ₦3.53 per share.

Conversely, the biggest losers were Juli, which dropped 10% to ₦9.00, and Unilever Nigeria, down 9.97% to ₦71.30. Custodian Investment shed 9.55% to ₦37.90, Academy Press declined 7.78% to ₦8.30, and May & Baker Nigeria lost 7.69% to ₦18.00 per share.

Trading volume dipped by 39.6% to 1.277 billion units worth ₦24.255 billion in 31,155 deals. Lasaco Assurance led the activity chart with 107.216 million shares worth ₦439.21 million, followed by Japaul Gold & Ventures with 106.900 million shares valued at ₦302.66 million. Sterling Financial Holdings, AIICO Insurance, and Access Holdings also recorded significant turnover, reflecting ongoing active participation in the equities market.

Source: Leadership