The Nigerian equities market returned to positive territory on Tuesday as renewed investor demand for banking and industrial stocks pushed the benchmark index higher, adding N916.89 billion to investors’ wealth amid sustained bullish sentiment on the Nigerian Exchange Limited (NGX).

At the close of trading, the NGX All-Share Index (ASI) advanced by 0.57 per cent to settle at 251,635.42 points, extending the market’s year-to-date return to 61.71 per cent, while market capitalisation rose to N161.28 trillion.

The rebound was driven largely by strong buying interest in heavyweight stocks such as BUA Cement Plc, which gained 5.8 per cent, First HoldCo Plc which rose 3.8 per cent, as well as Zenith Bank Plc and United Bank for Africa Plc, which appreciated by 1.5 per cent and 2.7 per cent respectively.

The rally also strengthened the market’s month-to-date return to 3.8 per cent, reinforcing optimism among investors despite lingering profit-taking activities across some counters.

Sectoral performance closed largely positive, with the Industrial Goods Index recording the strongest gain of 2.27 per cent on the back of buying interest in cement stocks. The Banking Index also appreciated by 0.98 per cent, while the Oil and Gas Index edged up marginally by 0.11 per cent.

However, bearish sentiment persisted in some sectors as the Insurance Index declined by 1.64 per cent and the Consumer Goods Index shed 0.93 per cent, dragged down by losses in key consumer-related counters. The Commodity Index closed flat.

Despite the market’s overall positive close, trading sentiment remained weak, reflecting cautious positioning by investors. Market breadth closed negative at 0.8x as 33 decliners outweighed 26 gainers.

Among the day’s top performers were FTN Cocoa Processors Plc, which appreciated by 10 per cent, and Skyway Aviation Handling Company Plc, which gained 9.8 per cent. Other notable gainers included Caverton Offshore Support Group Plc and Japaul Gold and Ventures Plc.

On the losers’ chart, Unilever Nigeria Plc declined by 10 per cent, while Trans-Nationwide Express Plc fell 9.9 per cent. Other laggards included Sovereign Trust Insurance Plc, McNichols Plc and Austin Laz & Company Plc.

Trading activity weakened across key performance indicators, suggesting that investors remained selective in their transactions. Total volume traded fell by 12.06 per cent to 703.95 million shares valued at N32.15 billion, exchanged in 64,539 deals.

Access Holdings Plc emerged as the most traded stock by volume with 88.41 million shares exchanged, while Zenith Bank Plc led by value with transactions worth N4 billion.

The rebound reflected sustained confidence in fundamentally strong banking and industrial stocks, with investors continuing to rebalance portfolios ahead of further corporate earnings releases and macroeconomic developments.

Market operators expect the bullish momentum to persist in the near term as institutional and retail investors continue to position in fundamentally sound counters amid improving sentiment across the equities market.

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