By Seun Ibiyemi
Nigeria’s equities market advanced by 0.29 per cent on Tuesday, securing a second gain of the week as renewed investor appetite for select stocks pushed the market to a positive close.
E-Tranzact International spearheaded the rally after securing approval from the Federal Inland Revenue Service (FIRS) as a certified provider for the agency’s nationwide e-invoicing rollout. The development lifted the company’s share price from N11.30 to N12.40, an increase of N1.10 or 9.73 per cent.
Mecure also ranked among the top gainers, with its stock rising from N19.65 to N21.60, representing a gain of N1.95 or 9.92 per cent. Regency Assurance added 13 kobo or 10 per cent, climbing from N1.30 to N1.43, while Deap Capital Management & Trust advanced by 9.52 per cent, moving from N1.68 to N1.84.
Trading activity remained buoyant, with investors exchanging 659.17 million shares worth N12.5 billion across 25,334 deals. Actively traded equities included FCMB, Universal Insurance, FBN Holdings, Regency Assurance, and Access Holdings.
At the close of trading, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) stood at 139,796.11 points, higher than the previous 139,394.75 points. Market capitalisation also strengthened, rising to N88.45 trillion from N88.20 trillion.
Analysts at Vetiva Research observed that overall market sentiment hinges on whether profit-taking in the high-volume banking sector subsides or if the positive momentum in insurance and consumer goods stocks broadens.
“Given the considerable turnover, liquidity remains high, though sentiment is clearly divided. This stock-picker’s market is likely to continue, with the broader direction ultimately shaped by how these opposing sectoral dynamics play out,” the analysts stated.