The Nigerian equities market sustained its upward trajectory on Tuesday, closing firmly in positive territory as renewed buying interest in select large- and mid-cap stocks lifted key indicators.

The benchmark All-Share Index (ASI) advanced by 0.31 per cent, or 31 basis points, to settle at 165,901.57 points, marking the second consecutive bullish session this month.

Consequently, market capitalisation rose by N332.49 billion to N106.49 trillion, underscoring the improved risk appetite among investors.

Market sentiment remained upbeat, driven largely by bargain hunting in stocks perceived to be undervalued and fundamentally sound.

As measured by market breadth, gainers slightly outpaced losers, with 35 stocks closing higher against 33 decliners. This reflects cautious optimism, as investors selectively accumulated positions rather than engaging in broad-based buying.

On the gainers’ chart, AUSTINLAZ Plc, International Medical Group (IMG), Union Diagnostics and Clinical Services Plc (UNIONDICON), and Zichis Agro Allied Industries Plc (ZICHIS) all recorded the maximum daily appreciation of 10.0 per cent, while RT Briscoe Plc followed closely with a 9.95 per cent gain.

Additional price appreciations were recorded in notable counters such as NGX Group Plc, First HoldCo Plc, Zenith Bank Plc, Presco Plc, Dangote Cement Plc, Access Holdings Plc, and Guaranty Trust Holding Company Plc, reflecting renewed interest in both financial and industrial names.

Conversely, trading on the downside saw Cutix Plc and Omatek Ventures Plc shed the maximum allowable 10.0 per cent, while UHOMREIT, SUNU Assurance Plc, and Deep Capital Management and Trust Plc (DEAPCAP) also recorded notable losses, reflecting profit-taking and weak sentiment in some insurance and real estate-linked stocks.

Sectoral performance was mixed. The Banking index emerged as the strongest performer, gaining 1.32 per cent, supported by rallies in First HoldCo, Zenith Bank, GTCO, and Access Holdings. The Industrial Goods and Commodity indices also closed higher by 0.69 per cent and 0.21 per cent, respectively, buoyed by gains in Dangote Cement and select agro-allied stocks. In contrast, the Insurance sector declined by 1.32 per cent, while the Consumer Goods and Oil & Gas indices dipped by 0.23 per cent and 0.17 per cent, respectively.

Trading activity presented a mixed picture. Total volume traded declined by 3.5 per cent to about 710 million shares, exchanged in roughly 45,500 deals. However, traded value rose sharply by about 34.0 per cent to N24.0 billion, signalling selective accumulation of high-value stocks. GTCO led activity by both volume and value, trading 65.90 million shares worth N6.53 billion.

Overall, the market’s positive close reflects cautious confidence, with investors positioning ahead of further corporate earnings releases and macroeconomic signals, while maintaining a selective approach across sectors.

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