NGX Gains ₦481bn as Market Rebounds on Earnings Optimism

On Tuesday, the Nigerian Exchange Group (NGX) reversed Monday’s losses, resulting in a gain of ₦481.18 billion for investors, driven by renewed buying interest in insurance, industrial, and consumer goods stocks. The benchmark NGX All-Share Index increased by 0.30% to close at 247,984.55 basis points, with market capitalization rising to ₦159.99 trillion, marking a year-to-date return of 59.36%.

Key stocks such as HBM Holdings, Dangote Sugar Refinery, and Transnational Corporation contributed to this recovery, offsetting declines in stocks like Mansard Insurance and ABC Transport. Market sentiment was positive, with gainers outnumbering losers by approximately 1.5 to one, as 36 stocks appreciated, led by Lasaco Assurance and Linkage Assurance.

The Insurance Index posted the strongest gain of 2.33%, while the Industrial Goods Index rose by 1.16%. Despite a mixed trading activity, with total traded volume increasing to 676.92 million shares but transaction value dropping by 36.32% to ₦36.43 billion, analysts expect the improving earnings season to sustain market momentum.