Nigerian Stock Market Rally Continues as Equities Gain N1.52 Trillion Amid Strong Investor Demand

The Nigerian equities market extended its bullish run on Tuesday as investors recorded a combined gain of about N1.52 trillion, pushing total market capitalisation above N161.77 trillion. The sustained rally reflects growing confidence in the market despite mixed performances across some sectors.

The All-Share Index of the Nigerian Exchange Group rose by 1,926.13 points, representing a 0.77% increase, to close at 252,411.67. The upward movement was largely driven by strong demand for large and medium-cap stocks, including Aradel Holdings, Unilever Nigeria, PZ Cussons Nigeria, Nigerian Breweries, and Vitafoam Nigeria.

Market sentiment remained broadly positive, with 45 gainers recorded against 32 losers. Notable price gainers included Ikeja Hotel and University Press, which both rose by 10%, followed closely by Zichis Agro Allied Industry, FTN Cocoa Processors, and Chams Holding Company, each posting near 10% gains. On the losing side, Fortis Global Insurance, Custodian Investment, and NPF Microfinance Bank led declines amid profit-taking activities.

Trading activity also strengthened, with total volume rising by 36.48% to 2.028 billion shares worth N87.709 billion across 80,888 deals. Heavy trading in CWG dominated the session, followed by United Bank for Africa and C & I Leasing, indicating sustained interest in both financial and tech-driven stocks.

Looking ahead, analysts at Cowry Assets Management expect the bullish momentum to continue, supported by strong investor optimism and sector-wide buying interest. However, market watchers note that short-term profit-taking could still influence select counters even as the broader outlook remains positive for the Nigerian equities market.