The Nigerian Exchange (NGX) sustained its positive momentum on Tuesday, closing stronger following major new listings that significantly expanded market capitalization.

The benchmark All-Share Index (ASI) rose 1.20 percent to 144,928.36 points, while market capitalization grew by 1.41 percent to N92.38 trillion. The market added a substantial N1.29 trillion in value after the admission of 181.6 million ordinary shares of Industrial and Medical Gases Plc (IMG) and 5.38 billion ordinary shares of Ecobank Transnational Incorporated (ETI).

Market breadth closed positive at 1.4x, with 27 gainers outperforming 20 laggards. Blue-chip stocks Dangote Cement Plc, NCR Nigeria Plc (NCR), International Breweries Plc, Livestock Feeds Plc, and Daar Communications Plc led the gainers’ chart.

Conversely, Ikeja Hotel Plc, Legend Intercontinental Services Plc, LivingTrust Mortgage Bank Plc, Wapic Insurance Plc, and FTN Cocoa Processors Plc recorded the steepest losses.

Sector performance was broadly bullish. The Industrial Goods Index surged 4.30 percent, supported by strong interest in large-cap stocks. Consumer Goods rose 1.08 percent, Banking gained 0.19 percent, Insurance edged up 0.16 percent, and Oil & Gas closed marginally positive at 0.02 percent. The Commodity sector remained flat.

Despite the positive price performance, trading activity showed mixed signals. Total trade volume fell sharply by 58.65 percent to 606.25 million units, while the number of deals declined 48.92 percent to 14,791 transactions. However, market turnover jumped 112.64 percent to N39.69 billion, reflecting strong participation from high-value investors even as broader market activity slowed.

With the combination of major listings and sustained interest in large-cap stocks, the NGX appears positioned to close the week on a strong footing, provided there are no significant profit-taking pressures.

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