By Seun Ibiyemi
Investors in the Nigerian equities market saw significant gains on Tuesday, recording a market capitalization increase of N465 billion, driven by notable price surges in select stocks.
The benchmark All-Share Index (ASI) climbed by 0.23% to close at 142,710.48 points, up from 142,377.56 points the previous day. Consequently, the total equity market capitalization rose from N90.1 trillion to N90.5 trillion.
Despite the overall monetary gain, market breadth was negative, indicating that more stocks declined than advanced. A total of 28 stocks advanced, 32 declined, and 87 remained unchanged across 28,009 total deals.
UPDC Plc, Nigerian Enamelware Plc, and Eterna Plc led the day’s gainers. UPDC posted the highest gain, soaring by 9.98 per cent to close at N6.61 per share. Nigerian Enamelware Plc followed closely with a 9.97 per cent increase, closing at N38.60, while Eterna Plc rounded out the top three, advancing by 9.95 per cent to N33.70 per share.
On the flip side, Union Dicon Salt Plc topped the losers’ chart, shedding a full 10 per cent. It was followed by Champion Breweries, which lost 7.09 per cent, and Royal Exchange Assurance Plc, which fell by 5.96 per cent.
In terms of trading activity, Fidelity Bank Plc dominated both the volume and value charts. The bank traded a massive 793 million shares valued at N15.8 billion across 831 deals.
Following Fidelity Bank, NCR Plc recorded the exchange of 66 million shares in 43 deals. Zenith Bank Plc also saw high activity, exchanging 49 million shares worth N3.4 billion in 1,667 deals. Furthermore, Lafarge Wapco featured prominently, with equities valued at N1.2 billion traded in 353 deals.
The day’s surge underscores renewed investor interest in key high-performing stocks, even as the broader market sentiment reflected cautious trading overall.