The bullish momentum on the Nigerian Exchange extended on Tuesday, with investors gaining approximately N1.36 trillion as sustained buying interest in banking, consumer goods, and oil and gas stocks pushed the market to another historic high.

Data from the Nigerian Exchange showed that the NGX All-Share Index rose by 0.67 per cent to close at 252,158.23 basis points, lifting the market’s year-to-date return to 62.04 per cent. Market capitalisation climbed to N162.61 trillion, underscoring the continued appetite for equities amid improving investor sentiment.

The rally was largely fuelled by renewed demand for fundamentally strong stocks across key sectors of the market, particularly banking counters, which recorded a 1.87 per cent gain. The oil and gas index also advanced strongly by 3.40 per cent, while consumer goods and commodity indices appreciated by 1.71 per cent and 2.31 per cent respectively.

The sustained upward trajectory reflects growing confidence in the equities market as investors continue to reposition portfolios towards sectors expected to benefit from ongoing economic reforms and earnings resilience.

Market breadth closed positive at 1.41 times, with 45 gainers outperforming 32 losers, highlighting the broad-based nature of the rally.

Among the top gainers were Ikeja Hotel Plc, Union Homes Real Estate Investment Trust, UPL, Zichis Agro Allied Industries, and Chams, which recorded strong price appreciation.

On the losers’ chart, Fortis Global Insurance, Custodian Insurance Plc, NPF Microfinance Bank Plc, AIICO Insurance Plc, and Honeywell Flour Mills Plc posted the steepest declines, as profit-taking moderated gains in some counters.

Trading activity also strengthened considerably during the session, with total volume traded rising by 36.48 per cent to 2.20 billion shares, while turnover increased by 28.13 per cent to N87.71 billion. However, the number of deals declined by 14.71 per cent to 80,088 transactions, indicating that large-value trades dominated market activity.

Market operators expect the positive trend to persist in Wednesday’s session, supported by sustained institutional demand, liquidity inflows, and renewed optimism over corporate earnings prospects.

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