Nigerian Exchange (NGX) investors secured a massive windfall on Tuesday, adding N469 billion to their collective wealth as aggressive buying pressure swept across the Lagos floor.
The sustained rally underscores a growing appetite for local assets in the new year. By the close of business, the aggregate market value of all listed equities climbed from N101.806 trillion to a new high of N102.275 trillion.
Consequently, the benchmark All-Share Index (ASI) leaped by 732.86 basis points. This 0.46 percent daily growth pushed the index from Monday’s standing of 159,218.22 to close at 159,951.08.
Market Breadth and Sentiment
The session was defined by overwhelming bullish sentiment. Advancing stocks outnumbered declining ones by a ratio of more than three-to-one, signaling broad-based confidence in the Nigerian Exchange (NGX).
Specifically, 65 equities recorded price appreciation. This figure dwarfed the 21 stocks that closed in the red, highlighting the depth of the current bull run.
Top Gainers and Losers
Small and mid-cap stocks dominated the gainers’ chart. Meyer and Jaiz Bank led the pack, both hitting the maximum daily regulatory limit of 10 percent.
Top 5 Gainers:
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Meyer: N14.30 (+10%)
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Jaiz Bank: N5.28 (+10%)
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ABC Transport: N4.96 (+9.98%)
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Austinlaz: N5.64 (+9.94%)
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Multiverse Mining: N17.70 (+9.94%)
However, the banking and energy sectors faced notable resistance. Blue-chip companies such as UBA and Oando succumbed to profit-taking.
Top 5 Losers:
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Aluminium Extrusion Industries: N21.70 (-9.96%)
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Learn Africa: N5.95 (-9.16%)
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Oando: N40.80 (-7.69%)
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UBA: N43.00 (-6.22%)
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Access Corporation: N23.50 (-6.00%)
Liquidity and Turnover Analysis
Trading patterns on the Nigerian Exchange (NGX) revealed a shift toward higher-value transactions. While the total number of deals contracted by four percent to 54,212, the volume and value of assets traded moved in the opposite direction.
Investors exchanged a total of 758.9 million shares, representing a nine percent increase over Monday’s volume. Furthermore, the monetary value of these trades rose by seven percent to settle at N19.8 billion.
Linkage Assurance emerged as the most traded stock by volume, moving 51.63 million units. Meanwhile, Guaranty Trust Holding Company (GTCO) captured the highest value, accounting for N2.04 billion—over 10 percent of the day’s total turnover.
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