The Nigerian Exchange Ltd. (NGX) sustained its bullish momentum on Tuesday, with investors transacting 1.03 billion shares valued at ₦22.9 billion across 38,932 deals, reflecting increased market participation and growing investor appetite. This represents a notable uptick from the previous session, which saw 811.09 million shares exchanged at a value of ₦19.47 billion in 35,963 deals.
Trading activity was largely driven by insurance equities. AIICO Insurance led the volume chart with 97.10 million shares worth ₦255.3 million. It was closely followed by Universal Insurance Plc, which posted 87.26 million units traded at ₦71 million, and Linkage Assurance, which recorded 64.03 million shares valued at ₦101.34 million. Other actively traded stocks included Fidelity Bank with 59.21 million shares worth ₦1.25 billion, and Veritas Kapital Assurance, which traded 50.18 million shares at ₦83.17 million.
The equities market closed on a high, as bullish sentiment lifted market capitalisation by ₦459 billion or 0.50%, closing at ₦91.608 trillion from ₦91.149 trillion recorded the previous day. Similarly, the All-Share Index (ASI) appreciated by 724.59 points to close at 144,796.37, compared to 144,071.78 on Monday. Market breadth remained positive with 53 gainers outpacing 22 laggards, an indication of strong buying pressure and positive sentiment across key sectors.
Among the day’s top performers, AIICO Insurance advanced 10 per cent to close at ₦2.64. Sunu Assurances and Mutual Benefits Assurance also gained 10 per cent each, closing at ₦4.84 and ₦2.20, respectively. Neimeth International Pharmaceuticals rose to ₦7.70, while Enamelware appreciated to ₦29.70 per share—also up 10%. On the downside, Livingtrust Mortgage Bank led the laggards with a 9.86 per cent decline to ₦5.94. UPDC Real Estate Investment Trust (UPDCREIT) fell by 9.63 per cent to ₦8.45, while Academy Press dropped 9.60 per cent to close at ₦8.95. Mecure Pharmaceuticals declined by 9.20 per cent to ₦15.80, and Cadbury Nigeria shed 7.35 per cent to settle at ₦63 per share.
Market analysts suggest that the sustained bullish run is underpinned by improved liquidity, renewed investor confidence, and bargain hunting in select mid- and low-cap stocks. As macroeconomic indicators continue to evolve, the bourse is expected to remain active, with opportunities for strategic positioning across key sectors.
