Trading at the Nigerian Exchange (NGX) closed on a mildly positive note as selective buying interest helped the market recover, even though most stocks still ended in the red. The session reflected a cautious but slightly optimistic mood among investors, with bargain hunting in a few large- and mid-cap equities driving overall gains.
The All-Share Index (ASI) rose to 251,635.42 points from 250,204.83 points in the previous session, signaling a modest upward correction. In the same vein, market capitalisation increased significantly by ₦917 billion, closing at ₦161.28 trillion, as investors rotated funds into a handful of attractive stocks despite lingering sell pressures across the broader market.
On the gainers’ chart, FTN Cocoa Processors led with a 10% jump, followed closely by Zichis Plc and Skyway Aviation Handling Company. Other strong performers included Caverton Offshore Support Group and Japaul Gold, alongside steady gains in consumer and logistics-related stocks. Among the blue chips, BUA Cement stood out with a notable price appreciation, while banking giants like Zenith Bank and United Bank for Africa also posted modest advances, helping to stabilise market sentiment.
However, losses remained widespread, underscoring the fragile nature of the rebound. Unilever Nigeria led the laggards, followed by Transcorp Express and Sovereign Trust Insurance. Additional declines across insurance, consumer goods, and industrial sectors highlighted ongoing profit-taking and sector rotation, as investors continued to lock in gains from previous rallies.
Exchange-traded funds (ETFs) mirrored the mixed market tone, with the Meristem Value ETF leading gainers, while others like Vetiva Griffin 30 and Vetiva Banking ETF also posted solid increases. Overall, the session points to a market still searching for direction—balancing selective buying enthusiasm against broader caution, as investors await stronger catalysts to sustain a sustained rally.