Stock market up 0.03% as Unilever, others rally

Nigeria’s stock market recorded a modest gain on Tuesday, edging up by 0.03 percent, as investor demand increased for Unilever Nigeria Plc and other attractively priced equities.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose slightly from 104,529.62 points to 104,560.02 points, while the overall market capitalisation improved from N65.685 trillion to N65.704 trillion. The uptick reflects renewed interest in select stocks with perceived growth potential.

Market activity remained strong, with 368,769,054 shares traded in 13,228 deals, amounting to a total turnover of N10.871 billion. Fidelity Bank, Access Holdings, Zenith Bank, United Bank for Africa (UBA), and FCMB Group featured prominently among the day’s most actively traded stocks.

On the gainers’ board, Abbey Mortgage Bank led the pack, with its share price climbing from N6.74 to N7.41—an increase of 67 kobo or 9.94 percent. Unilever Nigeria Plc followed closely, rising from N34.70 to N38.05, marking a gain of N3.35 or 9.65 percent as investors responded to its perceived undervaluation.

Learn Africa also made noticeable progress, with its share price moving from N3 to N3.25, a 25 kobo or 8.33 percent increase. Meanwhile, Consolidated Hallmark Holdings advanced from N2.75 to N2.95, adding 20 kobo or 7.27 percent.

Tuesday’s modest upward movement signals a cautious return of investor confidence, as market participants position themselves ahead of potential longer-term rallies in fundamentally strong equities.