The Nigerian equities market closed Tuesday’s session on a cautiously positive note, with marginal gains recorded on the back of strong trading activity dominated by banking and consumer goods stocks. The Nigerian Exchange (NGX) All-Share Index (ASI) inched up by 0.01%, reflecting renewed investor interest in high-liquidity names, particularly Access Holdings Plc, which accounted for a significant share of total market turnover.
By the close of trading, the ASI rose by 21.23 basis points to settle at 149,459.11 points, while total market capitalisation also advanced slightly by 0.01% to N95.28 trillion. Although the headline performance appeared muted, underlying trading data showed a notable surge in activity, underscoring growing investor engagement despite the modest price movement.
Total market transactions reached 1.026 billion shares exchanged across 23,701 deals, with a combined value of N21.83 billion. Compared with the previous trading session, traded volume jumped sharply by 85.52%, while transaction value increased by 64.48%. However, the number of deals declined by 18.01%, suggesting that activity was driven by fewer but larger trades, largely from institutional investors.
Access Holdings emerged as the most actively traded stock of the day. Investors exchanged 385.83 million shares of the Tier-1 lender in 1,372 deals, with a total value of N7.72 billion. Despite the heavy turnover, the stock closed flat at N20.00 per share, indicating that the trades were largely driven by portfolio rebalancing rather than speculative price movements. Market watchers noted that the strong interest in Access Holdings highlights its role as a liquidity anchor for the broader market.
Banking and consumer goods stocks dominate
Trading activity during the session was heavily skewed toward the banking and consumer goods sectors, reflecting investors’ preference for fundamentally strong and liquid stocks. In addition to Access Holdings, other financial names such as Sterling Financial Holdings, FCMB Group, and First HoldCo recorded substantial volumes, pointing to sustained institutional interest in the financial services space.
In the consumer goods segment, renewed buying interest lifted Guinness Nigeria Plc, which gained 9.98% to close at N263.40. The rally in Guinness Nigeria reflected selective accumulation of quality consumer stocks amid expectations that easing inflation could gradually support margins and consumer demand.
Overall, a total of 129 listed equities participated in trading during the session, with market breadth closing positive. Thirty-one stocks recorded gains, while 26 stocks ended the day in negative territory, highlighting a relatively balanced but slightly bullish market tone.
Gainers and losers
Leading the gainers’ chart was Aluminium Extrusion Industries (ALEX), which surged by the maximum allowable 10% to close at N9.35 per share. Other notable gainers included MeCure Industries and Multiverse Mining & Exploration, both of which posted near-limit gains of 9.95%, closing at N45.85 and N12.15 respectively. Sovereign Trust Insurance also featured among the top performers, rising by 9.89% to N4.11.
On the downside, Haldane McCall recorded the steepest decline, shedding 9.93% to close at N3.72 per share. LivingTrust Mortgage Bank and Veritas Kapital Assurance both dropped by 9.09%, closing at N3.50 and N1.60 respectively, while Linkage Assurance and Champion Breweries also closed lower, reflecting profit-taking pressures in select names.
Sectoral performance and outlook
Performance across NGX sector indices was mixed but generally positive. The NGX Insurance Index advanced by 0.36%, while the Consumer Goods Index rose by 0.21%, extending its impressive year-to-date gain beyond 100%. The NGX Pension and Premium indices also closed slightly higher. In contrast, the NGX Top 30 Index dipped by 0.08%, and the Main Board Index edged down marginally by 0.01%.
With year-to-date market returns standing at an impressive 45.21%, analysts say the market remains firmly in bullish territory, even as investors become more selective. Strong liquidity, improving macro signals, and continued rotation into fundamentally sound, high-volume stocks are expected to keep sentiment cautiously optimistic in the near term, although intermittent profit-taking is likely to persist as valuations adjust.
Emmanuel Bassey is a Financial Expert that has worked in the Banking and Finance Industry for over 15+ years across different banks in Nigeria
