Nigerian Exchange gains N254bn as banking and insurance stocks drive market rally, lifting All-Share Index by 0.29%

Nigerian Exchange gains N254bn in market capitalisation on Tuesday as investors continued their bullish momentum, primarily fueled by strong interest in banking and insurance stocks.

Also read: Nigerian Exchange loses N183bn as bearish sentiment hits blue-chip stocks

At the close of trading, the market capitalisation rose to ₦88.5 trillion from ₦88.25 trillion, while the All-Share Index (ASI) added 401.36 points (0.29%) to close at 139,796.11.

The rally was driven by demand in low- and medium-capitalised equities, particularly in the insurance and banking sectors, with stocks such as Regency Alliance Insurance (+10%), MeCure Industries (+9.92%), and E-Tranzact International (+9.73%) leading the gainers’ chart.

Also notable were Daar Communications (+9.57%) and Deap Capital (+9.52%).

On the flip side, Unilever Nigeria suffered the steepest loss of the day, declining by 9.79% to close at ₦63.15 per share.

Other laggards included FTN Cocoa Processors (−9.40%), Ellah Lakes (−8.76%), and Berger Paints (−6.33%).

Despite the gains, market analysts continue to flag cautious sentiment, pointing to a 30% decline in trading volume, turnover, and number of deals compared to Monday.

Trading was largely dominated by financial services stocks. Key players included:

• FCMB Group: 202.49 million shares, ₦2.09bn
• Universal Insurance: 63.14 million shares, ₦79.39m
• First HoldCo: 44.23 million shares, ₦1.34bn
• Regency Alliance Insurance: 30.98 million shares
• AccessCorp: 26.12 million shares

In value terms, GTCO led with ₦1.50bn, followed by First HoldCo, MTNN, and AccessCorp.

All major indices closed in the green:

• NGX Top 30 Index: +0.32%
• NGX Insurance Index: +0.98%
• NGX Industrial Index: +0.85%
• NGX Banking Index: +0.43%
• NGX Premium Index: +0.47%
• NGX Consumer Goods Index: +0.28%

On a weekly scale, the market shows a marginal gain of 0.05%, but a four-week loss of 4.17% persists.

Year-to-date, however, the NGX ASI is up 35.82%, indicating sustained investor confidence.

Also read: Nigerian Equities Market Posts Worst Return In Africa

According to analysts, the ongoing interest in financial stocks—especially insurance—remains a powerful driver, though short-term caution is expected due to declining volume and global macroeconomic pressures.