NGX market capitalisation rises to N158.4tn on blue-chip gains

The Nigerian equities market extended its positive run on Tuesday, lifting its total market capitalisation by N652bn to N158.399tn.

The Nigerian Exchange All-Share Index rose by 1,005.27 points, representing a 0.41 per cent gain, to close at 244,304.51 points.

The rally was driven largely by gains in medium and large-cap stocks, including Aradel Holdings, Nigerian Exchange Group, HBM Nigeria, Nigerian Breweries and Zenith Bank.

Investor sentiment remained positive during the session, with 34 stocks recording gains compared with 26 decliners.

Nigerian Exchange led the gainers’ chart, appreciating by 9.95 per cent to close at N179 per share.

Aradel Holdings followed with a 9.62 per cent gain to close at N1,550, while Sovereign Trust Insurance rose by 9.50 per cent to N1.96 per share.

McNichols gained 9.09 per cent to close at N4.80, while International Breweries appreciated by 8.50 per cent to N10.85 per share.

On the losers’ side, Ecobank Transnational Incorporated led with a 10 per cent decline to close at N66.60 per share.

Trans-Nationwide Express fell by 9.93 per cent to N2.45, while AVA Capital declined by 9.90 per cent to N4.55 per share.

PZ Cussons Nigeria shed 9.52 per cent to close at N75.10, while Prestige Assurance dropped by 8.72 per cent to N1.36 per share.

Trading activity also improved, with the number of deals, volume and turnover rising by 31.22 per cent, 17.75 per cent and 76.84 per cent respectively.

A total of 71,635 deals involving 505.12 million shares valued at N36.29bn were recorded during the session.

Mutual Benefits Assurance topped the activity chart with 38.995 million shares worth N113.418m.

Guaranty Trust Holding Company followed with 37.413 million shares valued at N4.860bn, while Zenith Bank recorded transactions in 30.575 million shares worth N3.903bn.

Fidelity Bank traded 27.804 million shares valued at N553.153m, while AXA Mansard Insurance recorded 22.873 million shares worth N271.836m.

Cowry Assets Management Limited said the positive sentiment could continue into Wednesday’s session, supported by sustained investor interest and favourable market breadth.