The Nigerian equities market staged a modest recovery on Tuesday, snapping a six-day bearish run as renewed interest in select bellwether and mid-tier stocks lifted overall performance. The NGX All-Share Index (ASI) inched up zero point one zero per cent to close at 143,763.13 basis points, while market capitalisation rose by N94.47 billion to N91.44 trillion.

Gains in Guaranty Trust Holding Company Plc, Sterling Financial Holdings Company Plc, First Holdings Plc, and UAC of Nigeria Plc provided the needed boost for the market rebound.

Consequently, Month-to-Date and Year-to-Date returns improved slightly to -6.7 per cent and +39.7 per cent, respectively.

Market sentiment turned positive, with 26 gainers outweighing 20 laggards, resulting in a one point three times market breadth. NCR Nigeria Plc, Ikeja Hotels Plc, Prestige Assurance Plc, Eunisell Interlinked Plc, and Sterling Financial Holdings Company Plc led the gainers’ chart, while Caverton Offshore Support Group Plc, Union Dicon Salt Plc, Sunu Assurances Nigeria Plc, Lasaco Assurance Plc, and AXA Mansard Insurance Plc closed as the day’s biggest losers.

Sectoral performance was mixed. The Banking Index recorded the strongest rise at 0.56 per cent, while the Consumer Goods sector gained 0.00 per cent. The Insurance sector declined by 0.84 per cent, reflecting sell pressure in key counters, while the Oil and Gas, Industrial Goods, and Commodity indices closed flat.

Trading activity weakened across all metrics, signalling persistent cautious sentiment among institutional and retail investors.

Total traded volume fell by 18.62 per cent to 556.15 million units, while total transaction value dipped by 34.04 per cent to N18.71 billion. The number of deals also declined by 18.29 per cent to 19,500.

First Holdings Plc was the most traded stock by volume with 93.72 million units, while Stanbic IBTC Holdings Plc led in value at N3.21 billion.

Analysts note that the decline in block trades and subdued retail participation continue to weigh on overall liquidity, even as the market attempts to stabilise after a prolonged sell-off.

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