NGX Market Cap Increases to N159.12 Trillion

On Tuesday, the Nigerian Exchange (NGX) experienced a bullish trend, with market capitalization climbing by approximately N307 billion to reach N159.12 trillion. The NGX All-Share Index (ASI) rose by 0.19%, closing at 246,659.56 points, continuing the market's positive momentum from the previous session.

This increase brought the year-to-date return to 58.51%, reflecting strong performance in Nigerian equities. However, trading activity showed mixed results; the number of deals decreased by 11.98% to 50,059, while the total transaction value slightly fell by 0.63% to N49.28 billion.

Conversely, trading volume improved by 9.49%, totaling 932.45 million shares. ACCESSCORP was the most actively traded stock, with 336.62 million shares valued at N8.65 billion.

Market breadth remained favorable, with 33 stocks gaining against 20 losers. UPDCREIT led the gainers with a 9.86% increase.

Analysts from Cowry Asset Management Limited anticipate that the market's positive momentum will persist due to strategic investor repositioning and ongoing portfolio rebalancing.