The Nigerian stock market recorded a marginal gain on Tuesday as the All-Share Index (ASI) rose by 0.06 percent to close at 218,249.81 points, up from 218,113.84 recorded in the previous session.
Equities market capitalisation increased slightly from ₦140.44 trillion to ₦140.52 trillion, translating to a modest ₦87 billion gain in investor wealth, indicating a slowdown in bullish momentum following last week’s strong rally.
Market Activity
Trading activity remained elevated, with investors exchanging 842.48 million shares valued at ₦44.86 billion in 61,617 deals, indicating sustained liquidity despite reduced price movement.
Top Gainers
Gains were led by Nascon Allied Industries Plc (NASCON), which advanced by 10.00 percent from ₦156.00 to ₦171.60.
Other top performers include:
- Union Dicon Salt Plc (UNIONDICON): +9.92% to ₦19.95
- Lafarge Africa Plc (WAPCO): +9.64% to ₦273.00
- Trans-Nationwide Express Plc (TRANSEXPR): +8.27% to ₦7.20
- UAC of Nigeria Plc (UACN): +7.84% to ₦110.00
The emergence of consumer goods and industrial stocks among the gainers suggests a gradual shift in market leadership away from purely banking-driven momentum.
Top Losers
On the downside, FGSUK2031S4 led the losers with a 16.11 percent decline, reflecting volatility in select fixed income instruments.
Other decliners include:
- Legend Internet Plc (LEGENDINT): -9.92% to ₦5.63
- Abbey Mortgage Bank Plc (ABBEYBDS): -9.59% to ₦6.60
- Stanbic IBTC Holdings Plc (STANBIC): -8.96% to ₦154.50
- Access Holdings Plc (ACCESSCORP): -8.83% to ₦29.95
The losses in banking stocks highlight ongoing profit-taking following the sector’s strong rally in the previous week.
Top Trades
Trading activity remained dominated by banking stocks with Access Holdings Plc leading with 110.81 million shares traded.
Other active stocks include:
- Zenith Bank Plc: ₦5.51 billion
- United Bank for Africa Plc: ₦2.19 billion
- Fidelity Bank Plc: ₦1.00 billion
- FCMB Group Plc: ₦751.49 million
This underscores continued strong participation in financial stocks despite short-term price corrections.
Fixed Income and ETF Market
The bond market remained largely unchanged with major instruments closing flat, indicating stable conditions in the fixed income segment.
The ETF segment recorded strong gains, led by NEWGOLD, which surged by ₦15,000.10. GREENWETF and MERVALUE also posted gains, while VETBANK advanced moderately and VETGRIF30 closed flat.
Market Outlook
The Nigerian stock market is showing signs of consolidation after an aggressive rally with marginal gains and increased profit-taking in key sectors.
While liquidity remains strong, the slowdown in price movement and the decline in major banking stocks suggest that investors are beginning to rebalance positions.
Going forward, the market is expected to trade cautiously with selective buying likely to persist as investors rotate into new sectors while taking profits in previously overbought stocks.
