Nigeria’s equities market sustained its upward momentum on Tuesday as the benchmark indices closed higher, driven by renewed buying interest in select mid- and small-cap stocks.
The market capitalisation of listed equities rose by N917bn to close at N161.279tn from N160.362tn recorded at the opening of the trading session.
Similarly, the All-Share Index of the Nigerian Exchange Limited advanced by 1,430.59 points or 0.57 per cent from 250,204.83 points to 251,635.42 points, indicating a positive market breadth despite a slightly higher number of decliners.
The trading session recorded 27 gainers against 33 losers, suggesting that while the market closed in positive territory, profit-taking persisted across several counters.
Leading the gainers’ chart was FTN Cocoa Processors Plc, which appreciated 10.00 per cent to close at N9.79 from N8.90 per share.
It was followed closely by Zichis Agro-Allied Industries Plc, which gained 9.97 per cent to close at N29.13, up from N26.49 per share. Skyway Aviation Handling Company Plc advanced 9.79 per cent to climb from N142.95 to N156.95 per share, while Caverton Offshore Support Group Plc rose 9.76 per cent to close at N6.75 from N6.15 per share. Japaul Gold and Ventures Plc also made the gainers’ list, appreciating 9.73 per cent to close at N3.72 from N3.39 per share.
On the decliners’ side, Unilever Nigeria Plc led the losers’ chart, dropping 10.00 per cent to close at N153.00 against its opening price of N170.00 per share.
Trans-Nationwide Express Plc declined 9.92 per cent to close at N6.99 from N7.76 per share, while Sovereign Trust Insurance Plc shed 9.81 per cent to close at N2.39 from N2.65 per share. McNichols Plc fell 9.26 per cent to close at N7.25 from N7.99 per share, and Austin Laz and Company Plc lost 7.28 per cent to close at N4.20 from N4.53 per share.
Meanwhile, several heavyweight stocks closed flat during the session, including Dangote Cement Plc, Lafarge Africa Plc, Julius Berger Nigeria Plc, Nestlé Nigeria Plc, Champion Breweries Plc and PZ Cussons Nigeria Plc.
Investor sentiment remained cautiously optimistic as buying interest in select industrial and service sector stocks helped sustain the market’s upward trajectory. However, the higher number of decliners indicates continued profit-taking following recent rallies across several counters.
