The Nigerian stock market surged by N1.736 trillion on Tuesday, buoyed by impressive corporate earnings that fueled investor optimism and renewed buying interest.
The market capitalisation rose sharply to N87.191 trillion, while the All-Share Index climbed by 2,746.36 points or 2.03%, closing at 137,912.87 points.
Gains in blue-chip and mid-cap stocks, including Dangote Cement, MTN Nigeria, Lafarge Africa, Okomu Oil, and Beta Glass, were major drivers of the rally.
Afrinvest Limited projected a continued bullish run, stating, “We expect the market to sustain its upward trajectory as earnings releases of major players ignite fresh buying opportunities.”
Market breadth remained strong, with 51 gainers against 25 losers. Top advancers included Berger Paints, Learn Africa, Thomas Wyatt, and Haldane McCall—each rising 10% to close at N34.10, N6.93, N3.19, and N4.73 per share, respectively. MTNN and Ellah Lakes also gained 9.99% each, while Academy Press rose 9.96%.
Conversely, Abbey Mortgage Bank and Northern Nigeria Flour Mills (NNFM) topped the losers’ chart with 10% declines, closing at N7.20 and N93.15 per share, respectively. Vitafoam Nigeria dropped 9.96%, IMG lost 9.93%, and International Breweries fell by 7.10%.
Trading activity was robust, as the total volume of shares traded rose by 18.25% to 940.8 million units, worth N30.63 billion in 28,358 deals.
Fidelity Bank led the volume chart with 111.27 million shares valued at N2.34 billion. Other active stocks included Royal Exchange (74.08 million shares), Jaiz Bank (60.86 million), Universal Insurance (38.28 million), and Access Holdings (36.81 million).
