The Nigerian Exchange Limited (NGX) sustained its bullish momentum on Tuesday, with investors reaping a substantial gain of N1.05 trillion. This surge is attributed to renewed buying interest in blue-chip stocks across major sectors.
The All-Share Index (ASI) climbed by 1.56%, closing at 108,361.10 points, while the market capitalization soared to ₦68 trillion. Notable gainers included MTN Nigeria, NESTLE, ETI, and OKOMUOIL, which significantly contributed to the market's upward trajectory.
Despite the rally, market activities saw a slight dip, with total volume and value of trades decreasing by 16.45% and 26.59%, respectively. Approximately 475.46 million units valued at ₦13.9 billion were exchanged in 17,575 deals. ACCESSCORP led the activity chart, accounting for 21.94% of the total volume traded, followed by GTCO, UBA, STERLINGNG, and ZENITHBANK.
Analysts suggest that the sustained bullish trend is driven by positive investor sentiment and strategic positioning in anticipation of favorable corporate earnings. The market's performance indicates robust investor confidence and a potential for continued growth in the near term.
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