The Nigerian stock market extended its bullish trend on Tuesday, recording a gain of N396bn in market capitalisation amid renewed investor interest across key sectors.
The All-Share Index of the Nigerian Exchange Limited rose by 0.71 per cent to close at 99,793.71 points, compared to the previous close of 99,088.32 points. As a result, the market capitalisation increased to N56.49tn from N56.09tn.
The upturn was driven by buying interest in large-cap stocks such as Dangote Cement, BUA Cement, and MTN Nigeria.
Out of 129 equities traded on the Nigerian Exchange, 36 recorded gains, while 34 closed in the red.
Dangote Sugar Refinery led the gainers with a full 10 per cent price appreciation, closing at N56.10 per share.
Other top gainers included The Initiates Plc, which rose by 9.97 per cent to close at N12.13; Sovereign Trust Insurance, up 9.84 per cent to N1.34; Nigerian Enamelware, which increased by 9.83 per cent to N22.35; and UPL, which gained 9.82 per cent to close at N6.15. Cadbury also posted strong gains, closing 8.90 per cent higher at N68.55.
On the flip side, Ellah Lakes led the losers’ chart with a 10 per cent decline, closing at N9.90 per share. It was followed by Legend Internet, down 10 per cent to N5.31; FTN Cocoa, which dropped 9.91 per cent to N6.09; Meyer, down 9.79 per cent to N17.05; and Thomas Wyatt, which shed 9.73 per cent to close at N3.06.
The volume of transactions declined by 47.7 per cent as investors traded 408.62 million shares valued at N7.83bn in 8,256 deals. This is against the 781.82 million units worth N13.97bn exchanged in 9,246 deals on Friday.
The banking sector contributed to the day’s activity, with FBN Holdings, Access Holdings, and UBA emerging as the most traded stocks by volume.
The rally was broad-based across key indices. The Industrial Goods Index recorded the strongest performance, rising by 2.87 per cent week-on-week and 28.23 per cent year-to-date.
The Premium Board Index increased by 0.61 per cent, while the Consumer Goods Index added 0.5 per cent.
Other notable performances included the Top 30 Index, which gained 0.46 per cent; the Main Board Index, up 0.4 per cent; and the Insurance Index, which rose by 0.25 per cent despite a 4.3 per cent decline over the week.
The PUNCH reported that the Nigerian Exchange Limited opened the week on a cautious note as the benchmark All-Share Index inched up by 241.11 points, or 0.18 per cent, to close at 131,826.77 on Monday, July 21, 2025, reflecting mixed investor sentiment across major sectors.
