Nigerian Stock Market Gains N652 Billion on Tuesday

On Tuesday, the Nigerian stock market experienced a significant gain of N652 billion, driven by sustained investor interest in blue-chip stocks. The All-Share Index (ASI) rose by 1,005.27 points, marking a 0.41 percent increase to close at 244,304.51 points.

Market capitalization also increased to N158.399 trillion. This positive trend was influenced by gains in medium and large capitalized stocks, including Nigerian Exchange Group, which led the gainers with a 9.95 percent increase, followed by Aradel Holdings at 9.52 percent, and Sovereign Trust Insurance at 9.0 percent.

Conversely, Ecobank Transnational Incorporated (ETI) led the decline with a 10 percent drop, followed by Trans-Nationwide Express at 9.93 percent and AVA Capital at 9.90 percent. Looking forward, Imperial Asset Managers Limited indicated that market sentiment is expected to remain cautiously positive, although the ongoing Dangote Petroleum Refinery IPO may affect domestic liquidity as investors adjust their portfolios.