The Nigerian stock market extended its winning streak on Tuesday, gaining ₦111 billion in market value, buoyed by strong investor interest in Julius Berger Plc and 49 other stocks.
The All-Share Index (ASI) rose by 175.12 points, or 0.12%, to close at 146,055.89, while market capitalisation increased to ₦92.405 trillion. The gains were driven by price appreciation in large and mid-cap stocks such as Julius Berger, Lafarge Africa, NEM Insurance, AXA Mansard Insurance, and Champion Breweries.
Market breadth closed positive, with 50 gainers against 29 losers. Top percentage gainers included Associated Bus Company, Champion Breweries, Ellah Lakes, Sunu Assurance, AXA Mansard Insurance, Prestige Assurance, Wapic Insurance, and The Initiates Plc, all up 10%. Julius Berger gained 9.99% to close at ₦147.60, while Mutual Benefits Assurance rose 9.97% to ₦3.53.
On the losers’ side, Juli dropped 10% to ₦9.00, Unilever Nigeria shed 9.97% to ₦71.30, and Custodian Investment lost 9.55% to ₦37.90. Academy Press fell 7.78% to ₦8.30, while May & Baker Nigeria declined 7.69% to ₦18.00.
Trading activity slowed, with volume falling 39.6% to 1.277 billion units worth ₦24.255 billion in 31,155 deals. Lasaco Assurance led with 107.216 million shares valued at ₦439.21 million, followed by Japaul Gold & Ventures (106.9m shares, ₦302.66m) and Sterling Financial Holdings Company (97.834m shares, ₦784.45m). AIICO Insurance and Access Holdings also recorded significant volumes.
Afrinvest Limited said it expects the bullish sentiment to persist, supported by improved investor confidence.
