The Nigerian equities market sustained its bullish momentum on Tuesday as the All-Share Index (ASI) gained 1,516 points to close above the 150,000 mark for the first time in history, driven by strong performances in BUA Foods, Aradel Holdings, and First HoldCo.
The benchmark index rose by 1.01%, closing at 151,456.91 points from 149,940.80 points recorded on Monday. The year-to-date return now stands at +47.15%, underscoring renewed investor confidence amid the ongoing release of third-quarter earnings results.
Market capitalization surged to N96.13 trillion, inching closer to the N100 trillion milestone, while trading activity improved significantly with 551.9 million shares exchanged across 27,518 deals, compared to 415 million shares on Monday.
Gainers’ Chart
On the gainers’ chart, SCOA Nigeria Plc led with a 7.74% rise to close at N7.10, followed by OMATEK which gained 7.48% to N1.58.
Other top gainers included Consolidated Hallmark Plc (+6.70%), BUA Foods (+6.54%), and Vitafoam (+5.92%).
Losers’ Chart
On the flip side, LIVINGTRUST topped the losers’ chart, declining 9.91% to N4.00, followed by CONOIL (-5.83%), AFRIPRUD (-5.69%), SOVRENINS (-3.95%), and NPF Microfinance Bank (-3.75%).
Market Activity
FIDELITYBK led trading by volume with 59.1 million shares, followed by VFDGROUP (39.3 million), JAPAULGOLD (37.7 million), ACCESSCORP (37.3 million), and GTCO (31.3 million).
In terms of value, GTCO dominated with transactions worth N2.9 billion, followed by DANGCEM (N2.07 billion), ARADEL (N1.64 billion), MTNN (N1.20 billion), and FIDELITYBK (N1.1 billion).
SWOOT and FUGAZ Performance
Among the Stocks Worth Over One Trillion Naira (SWOOTs), sentiment remained positive:
BUA Foods rose 6.54%, Aradel Holdings climbed 4.94%, Lafarge Africa gained 1.10%, and Nigerian Breweries edged up 0.07%.
Performance among FUGAZ (First Bank, UBA, GTCO, AccessCorp, Zenith Bank) stocks was mixed.
First HoldCo advanced 4.46%, UBA closed flat, while AccessCorp (-1.77%), GTCO (-0.32%), and Zenith Bank (-0.15%) declined slightly.
Market Outlook
Analysts say the break above the 150,000 index level confirms strong bullish momentum in the market, suggesting further upside potential as more Q3 earnings are released.
“Sentiment is expected to remain positive, especially for fundamentally strong large-cap stocks with impressive results,” said one market analyst.
Key Market Summary
| Indicator | Value |
|---|---|
| Current ASI | 151,456.91 |
| Previous ASI | 149,940.80 |
| Change | +1.01% |
| YTD Return | +47.15% |
| Volume Traded | 551.9 million shares |
| Market Capitalization | N96.13 trillion |
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