Bullish sentiment tightened its grip on the Lagos bourse Tuesday, delivering a windfall of N469 billion to equity holders. This surge underscores a deepening appetite for Nigerian assets as the market sustains its upward trajectory into the new year.
Buying pressure was evident across the board, with advancing stocks outnumbering decliners by a ratio of more than three to one. Consequently, the aggregate market valuation climbed from an opening of N101.806 trillion to settle at a robust N102.275 trillion.
Key Indices Scale New Heights
The benchmark All-Share Index (ASI) mirrored this growth, appreciating by 0.46 percent. By the close of the session, the index had added 732.86 points, moving from Monday’s 159,218.22 to finish at 159,951.08.
This positive close further extends the year-to-date return, signaling strong confidence among local and potentially foreign participants.
Top Performers and Laggards
Tuesday’s rally was broad-based, with market breadth closing overwhelmingly positive. A total of 65 equities recorded price appreciation, significantly overshadowing the 21 stocks that ended in the red.
Leading the charge were Meyer and Jaiz Bank, both hitting the maximum allowable daily gain of 10 percent.
Top Gainers:
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Meyer: Closed at N14.30 (+10%)
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Jaiz Bank: Closed at N5.28 (+10%)
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ABC Transport: Closed at N4.96 (+9.98%)
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Austinlaz: Closed at N5.64 (+9.94%)
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Multiverse Mining: Closed at N17.70 (+9.94%)
However, not all sectors shared in the prosperity. Significant sell-offs hit the banking and energy sectors.
Top Losers:
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Aluminium Extrusion Industries: Dipped to N21.70 (-9.96%)
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Learn Africa: Fell to N5.95 (-9.16%)
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Oando: Dropped to N40.80 (-7.69%)
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UBA: Slid to N43.00 (-6.22%)
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Access Corporation: Declined to N23.50 (-6.00%)
Liquidity and Turnover Analysis
Activity levels presented a mixed picture, suggesting larger transaction sizes despite fewer distinct trades. While the total deal count contracted by four percent to 54,212, the actual volume and value of shares exchanged spiked.
Investors traded 758.9 million shares, marking a nine percent increase from Monday’s figures. Furthermore, the monetary value of these trades rose by seven percent, totaling N19.8 billion.
Linkage Assurance dominated the activity chart in terms of volume, moving 51.63 million shares. Meanwhile, Guaranty Trust Holding Company (GTCO) led by value, with transactions worth N2.04 billion—representing over 10 percent of the day’s total turnover.
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