The Nigerian equities market continued its bullish momentum on Tuesday, August 6, 2025, driven by strong investor interest in BUA Cement Plc and 51 other stocks. This broad-based buying activity boosted the Nigerian Exchange’s (NGX) total market capitalisation by N458 billion, ending the day at N91.61 trillion. The All Share Index (ASI) also rose by 724.59 points, or 0.5%, to close at 144,796.37 points.
The rally was powered by gains in both mid- and large-cap stocks, notably BUA Cement, Aradel Holdings, Unilever Nigeria, UACN, and Oando. Analysts at Afrinvest and Vetiva remain optimistic, predicting a sustained bullish trend, particularly in large-cap stocks. However, they note that the banking sector may trade mixed due to investor caution ahead of earnings reports.
Investor sentiment remained firmly positive, as market breadth closed with 52 gainers against 22 decliners. Top performers included AIICO Insurance, SUNU Assurance, Mutual Benefits Assurance, Neimeth, Nigerian Enamelware, and BUA Cement, all gaining 10% each. Sterling Financial Holdings, Veritas Kapital Assurance, and Abbey Mortgage Bank also recorded impressive gains just under 10%.
Conversely, some stocks experienced notable losses. Living Trust Mortgage Bank led the losers with a 9.86% decline, followed by Academy Press (-9.6%), MeCure Industries (-9.2%), Cadbury Nigeria (-7.35%), and Eterna (-4.88%). Despite these losses, trading activity was upbeat, with volume surging by 26.7% to 1.028 billion units, worth N22.836 billion in 38,932 deals.
Leading the trading volume was AIICO Insurance with over 97 million shares traded, followed by Universal Insurance, Linkage Assurance, Fidelity Bank, and Veritas Kapital Assurance. The day’s performance reflects continued investor confidence, especially in the non-banking sectors, and sets an optimistic tone for the rest of the week’s trading sessions.
Source: Guardian