NGX Extends Rally as Stocks Add N332bn, Blue-Chip and Mid-Cap Demand Lifts Market

|By Babatunji Wusu

The Nigerian stock market sustained its upward trajectory on Tuesday, adding N332 billion to investors’ wealth as sustained buying interest pushed key indices higher at the Nigerian Exchange Limited (NGX).

Market activities closed on a bullish note, driven by strong demand for equities such as Austinlaz, Industrial and Medical Gases, Union Dicon Salt, Zichis Agro Allied Industries and RT Briscoe, among others.

Consequently, total market capitalization rose by 0.31 per cent to N106.494 trillion from N106.162 trillion at the previous close. In the same vein, the All-Share Index (ASI) advanced by 516.93 points, representing a 0.31 per cent gain, to close at 165,901.57 from 165,384.64 recorded in the prior session.

Market breadth remained positive, with 35 stocks closing in the green against 34 losers, underscoring sustained investor confidence despite mixed sectoral performances.

Industrial and Medical Gases, Union Dicon Salt, Zichis Agro Allied Industries and Austinlaz led the gainers’ chart, each appreciating by the maximum 10 per cent to close at N34.65, N9.90, N5.06 and N4.07 per share respectively. RT Briscoe also recorded strong price appreciation during the session.

On the flip side, Cutix and Omatek Ventures topped the losers’ chart, shedding 10 per cent each to close at N3.15 and N2.43 per share. Union Homes Real Estate Investment Trust followed closely with a decline of 9.95 per cent.

Trading data showed that investors exchanged a total of 736.4 million shares valued at N24.7 billion in 46,026 deals. This contrasts with the previous session’s 762.8 million shares worth N18.4 billion traded in 55,374 transactions.

The figures indicate a 3.45 per cent decline in trading volume and a 17 per cent drop in deal count, despite a notable 29 per cent increase in transaction value, reflecting selective but high-value trades.

GTCO emerged as the most actively traded stock, accounting for 65.90 million shares valued at N6.53 billion. This represented 8.95 per cent of total market volume and 26.47 per cent of the day’s overall transaction value.