Nigerian stocks rally as market capitalisation hits N130tn

The Nigerian Exchange All Share Index extended its bullish run on Tuesday, pushing market capitalisation to N130 trillion amid renewed investor confidence and strong gains across key sectors.

The benchmark index rose by 1,084.52 points, or 0.54 per cent, to close at 202,559.41 points, while market capitalisation increased by N696 billion to N130.026 trillion.

Gains in major stocks, including BUA Cement, Nigerian Aviation Handling Company, Zenith Bank, Dangote Cement and Guaranty Trust Holding Company, drove the market’s upward momentum.

Analysts at Imperial Asset Managers said “the session reflects sustained investor optimism, supported by continued demand for fundamentally sound stocks and improved market liquidity.”

Similarly, United Capital Plc noted that “the market’s structural bull run remains intact,” citing the Central Bank’s rate cuts and improving macroeconomic outlook, while cautioning investors about possible profit-taking.

Market breadth remained positive, with 39 gainers outpacing 34 losers. BUA Cement led the gainers with a 10 per cent rise, followed by Premier Paints and Zenith Bank.

On the losers’ chart, Presco recorded the steepest decline, dropping 10 per cent, while Caverton Offshore Support Group and Secure Electronic Technology also posted losses.

Trading activity strengthened significantly, with total volume rising by 41.22 per cent to 1.75 billion shares valued at N88.1 billion in 62,654 deals. FCMB Group led activity with over 516 million shares traded, followed by Wema Bank and Zenith Bank.

Other actively traded stocks included Access Holdings and GTCO, reflecting sustained market participation.