Nigerian Stock Market Gains N884 Billion on Bullish Trend

On Tuesday, the Nigerian stock market continued its bullish run, achieving a gain of N884 billion, which raised the market capitalization by 0.67% to N132.492 trillion, up from N131.608 trillion the previous day. The NGX share index increased by 1372.52 basis points, closing at 205,831.38 points, compared to 204,458.86 points the day before.

The market showed positive breadth with 40 gainers against 21 decliners, resulting in a year-to-date return of 32.32%. Notable gainers included Stanbic IBTC, which led the gainers' table with a 10% increase, closing at N161.70 per share, followed by NGX Group at 9.97% to close at N168.75 per unit.

Conversely, FTG Insurance was the top loser, dropping 8.20% to close at N1.12 per unit. Trading volume rose to 99.301 million shares, representing a 21.13% increase, with a total transaction value of N32.249 billion, down 0.61% from the previous day.