On Tuesday, the Nigerian stock market experienced a recovery, resulting in a N653 billion increase in investor wealth. This upward trend was fueled by strong demand for mid- and large-cap companies, such as Airtel Africa, Prestige Assurance, Cutix, and Regency Alliance Insurance, among others. Total market capitalization climbed 0.45 percent, moving from N146.564 trillion to N147.217 trillion. The All-Share Index mirrored this growth, rising 1,017.26 points to reach 229,419.18. Consequently, the Year-to-Date return for the market reached 47.43 percent.
Despite the overall gain, the market breadth remained negative, with 32 stocks declining against 19 advancing. Custodian Investment recorded the steepest drop of 9.98 percent, closing at N65.85, followed by PZ Cussons and RT Briscoe, which each fell by 9.95 percent. UPDC and Honeywell Flour also saw significant losses. In contrast, Airtel Africa, Critical Minerals Financing Corp, and Prestige Assurance saw their share prices rise by 10 percent each.
Trading activity saw a slight cooling, with volume dipping by 8.44 percent compared to the prior session. Investors exchanged 966.66 million shares valued at N39.95 billion across 49,579 deals. Linkage Assurance was the most traded stock by volume, while Aradel dominated in total value traded, accounting for roughly 29 percent of the day’s activity.
