Nigeria’s equities market rebounded strongly on Tuesday, with investors adding ₦719 billion to market capitalisation as renewed demand for blue-chip stocks, particularly MTN Nigeria, helped reverse two consecutive trading sessions of losses.
The rally saw the Nigerian Exchange (NGX) All-Share Index (ASI) advance by 1,121.33 points, or 0.46 per cent, to close at 242,870.44 basis points, while total market capitalisation rose to ₦155.849 trillion.
MTN Nigeria’s shares gained 1.23 per cent to close at ₦820 per share, providing one of the strongest boosts to market performance.
Investors Return to Equities
Market breadth remained positive, with 24 gainers outperforming 22 losers, signalling sustained investor confidence despite recent profit-taking.
Among the day’s top performers:
- Learn Africa appreciated 10 per cent to close at ₦9.90 per share.
- First HoldCo climbed 9.98 per cent to ₦72.15.
- Thomas Wyatt Nigeria gained 9.80 per cent to settle at ₦2.69.
- R.T. Briscoe rose 8.68 per cent to ₦13.15.
- Transcorp Hotels advanced 8.37 per cent to ₦242.00 per share.
On the losing side:
- International Energy Insurance shed 9.86 per cent to close at ₦4.66.
- Legend Internet fell 9.18 per cent to ₦4.45.
- Fortis Global Insurance declined 7.67 per cent to ₦2.77.
- FTN Cocoa Processors lost 7.55 per cent to ₦8.21.
- International Breweries dropped 4.79 per cent to ₦13.90.
Trading Activity Surges
Investor participation also strengthened during the session.
Total trading volume rose 21.25 per cent to 634.775 million shares, valued at ₦53.336 billion, across 42,494 deals.
First HoldCo dominated the activity chart with 326.922 million shares worth ₦22.332 billion. It was followed by:
- GTCO – 22.469 million shares valued at ₦2.821 billion
- Access Holdings – 18.532 million shares worth ₦461.613 million
- FCMB Group – 16.118 million shares valued at ₦166.836 million
- Zenith Bank – 15.923 million shares worth ₦1.729 billion.
Outlook
Market analysts said the rebound reflects a quick recovery in investor sentiment following recent profit-taking, with demand returning to fundamentally strong, large-cap stocks.
Looking ahead, analysts at Cowry Asset Management Limited expect the positive momentum to continue, supported by ongoing portfolio rebalancing and strategic positioning by investors. However, they cautioned that intermittent profit-taking in recently appreciated stocks could temper the pace of further gains.
