Nigerian Stock Market Gains N92bn as Insurance Stocks Lead Bullish Run on NGX
The Nigerian Exchange Limited (NGX) extended its bullish momentum on Tuesday, adding ₦92 billion to market capitalisation as investors renewed interest in insurance stocks, sustaining the positive trading sentiment seen since the start of the week. This fresh surge pushed the market capitalisation to ₦92 trillion, while the All-Share Index advanced by 172.48 points (0.12%) to close at 144,995.26. The market’s performance now stands at 1.84% gain week-to-date, 4.02% in four weeks, and an impressive 40.87% rise since the start of 2025.
Trading activity remained vibrant, as 507.4 million shares worth ₦24.28 billion exchanged hands in 30,665 deals. Although this represented a slight 2% drop in trading volume and a14% decline in the number of deals, turnover value surged by 67% compared to Monday’s session. Analysts attributed this to rising investor confidence and increased participation in key financial and industrial stocks.
The insurance sector dominated the gainers’ chart, with Cornerstone Insurance leading the rally after climbing 9.92% to ₦6.65 per share. It was closely followed by Consolidated Hallmark Holdings with a 9.52% gain, while Chams and VFD Group appreciated by 9.22% and 9.17%, respectively. The upswing in insurance equities signals a growing appetite for undervalued financial instruments within the NGX.
However, the day wasn’t entirely bullish. Livingtrust Mortgage Bank topped the losers’ chart, falling by 10% to ₦5.94 per share, while Austin Laz & Company declined by 9.74%, Juli shed 9.6%, and Livestock Feeds lost 7.5%. On the activity side, Access Holdings led in volume with 45.9 million shares valued at ₦1.19 billion, trailed by Ellah Lakes, Chams, and Sovereign Trust Insurance. In terms of value, Aradel Holdings dominated with trades worth ₦13.16 billion, followed by Dangote Cement, Access Holdings, and Lafarge Africa.
Performance across sectoral indices was largely positive. The Insurance Index rose 1.98%, the Premium Index gained 1.06%, and the Industrial Index advanced 0.69%, while the Consumer Goods Index edged up 0.26%. Analysts say the continued rally reflects improving investor confidence, supported by strong corporate earnings and renewed optimism in Nigeria’s macroeconomic stability. The NGX’s strong start to October builds on Monday’s ₦786 billion market gain, keeping the local bourse firmly in bullish territory.
source: punch