By Sofiyyah Layole
The Nigerian Exchange (NGX) sustained its bullish momentum on Tuesday as the benchmark All-Share Index (ASI) crossed the historic 150,000 mark for the first time, reflecting heightened investor optimism and continued market resilience.
The ASI gained 1.01 per cent to close at 151,456.91 points, up from 149,948.23 points in the previous session, while market capitalisation appreciated by N960 billion to settle at N96.13 trillion.
Investor appetite remained strong across key sectors, with notable price appreciation recorded among medium- and large-cap stocks. SCOA led the gainers’ chart, rising by 7.74 per cent to close at N7.10. It was followed by Omatek, which advanced 7.48 per cent to N1.58, while Conhall Plc gained 6.70 per cent to close at N4.78. BUA Foods also recorded significant investor interest, appreciating by 6.54 per cent to close at N692.50, and Lotus Halal Equity ETF rose by 6.49 per cent to finish at N77.00, completing the list of the day’s top five gainers.
Market activity remained strong as investors continued to take positions ahead of year-end earnings releases and dividend declarations. The sustained rally indicates improving market sentiment, fuelled by expectations of macroeconomic stability and strengthened corporate performance.
The equities market remains on a strong upward trajectory in the short term, supported by growing investor participation and confidence.