Market Capitalisation Hits N92.405trn as Insurance, Industrial Stocks Drive Gains

The Nigerian equities market closed higher on Tuesday as increased demand for insurance and industrial stocks offset profit taking in banking, consumer goods, and oil and gas sectors.

The buying momentum lifted the Nigerian Exchange Limited (NGX) All-Share Index (ASI) by 0.12 percent to 146,055.89 points, while market capitalisation advanced to N92.405 trillion from the previous day’s N92.294 trillion.

Futureview Research, in its weekly market outlook, maintained a cautiously optimistic stance, citing expectations of continued upward momentum driven by strong corporate earnings.

“Barring any major macroeconomic headwinds or negative market surprises, investor sentiment is expected to remain broadly positive,” the firm stated.

Trading data showed that investors executed 31,155 deals, exchanging 1.28 billion shares valued at N24.25 billion. Activity was led by Lasaco, Japaul Gold, Sterling, AIICO, and Access Holdings.

Top gainers included Ellah Lakes, which rose by 10 percent from N14.60 to N16.06, adding N1.46, and ABC Transport, up 10 percent from N4.50 to N4.95.

Champion Breweries also gained 10 percent, climbing from N15.80 to N17.38, while Prestige Assurance advanced 10 percent from N2.00 to N2.20.

The market’s year-to-date return increased to 41.90 percent. On a monthly basis, the NGX has gained 4.43 percent, with a week-to-date rise of 0.21 percent.

The sustained interest in insurance and industrial counters underscores a sector rotation strategy by investors seeking value amid volatility in other segments.

Analysts expect the positive trend to persist if corporate earnings continue to meet market expectations and macroeconomic stability is maintained.