The Nigerian stock market delivered another impressive performance on Tuesday, adding N3.45 trillion to investors’ wealth as renewed buying interest swept across major stocks. The sustained rally reflects growing confidence among investors, with both large-cap and mid-cap companies attracting strong demand. The latest gains further reinforce the market’s position as one of the strongest-performing investment destinations in Africa this year.
Market capitalization climbed by 2.27 percent to N155.585 trillion, up from N152.135 trillion recorded in the previous session. Likewise, the All-Share Index surged by 5,376.70 points to close at 242,459.98, marking another milestone for the Nigerian Exchange. With the latest advance, the market’s year-to-date return strengthened to an impressive 55.81 percent, highlighting the resilience of equities despite broader economic uncertainties.
Leading the charge were Airtel Africa and Trans-Nationwide Express, both posting the maximum daily gain of 10 percent. Fidelity Bank also impressed investors with a 9.97 percent rise, while Thomas Wyatt and Zichis Agro Allied Industry recorded strong gains. The rally suggests that investors are increasingly positioning themselves in fundamentally strong stocks as expectations for continued market recovery grow stronger.
Not every stock benefited from the bullish sentiment, however. Halldane McCall topped the losers’ chart after shedding nearly 10 percent of its value, while McNichols, Computer Warehouse Group, VFD Group, and NPF Microfinance Bank also closed lower. Despite these declines, the overall market mood remained upbeat as gainers comfortably outnumbered losers, reflecting broad-based buying activity across several sectors.
Trading activity also picked up significantly, with investors exchanging over 518 million shares valued at N22.75 billion. Lasaco Assurance emerged as the most actively traded stock by volume, while Aradel dominated the value chart with transactions worth N4.20 billion. Speaking on the market’s performance, Highcap Securities Vice-President David Adonri said the return of bullish momentum indicates the market may have found its bottom. According to him, while the recovery may not be rapid, investors can expect a steady and sustainable upward trend in the coming weeks, a development that could further strengthen confidence in Nigeria’s capital market.