The Nigerian equities market sustained its bullish momentum on Tuesday, as investors gained over N710 billion amid strong buying interest across key sectors.

The benchmark All-Share Index (ASI) of the Nigerian Exchange Limited advanced by 0.57 per cent to close at 196,621.96 points, lifting the year-to-date (YTD) return to 26.35 per cent.

Market capitalisation rose correspondingly by 0.57 per cent, adding N710.98 billion to settle at N126.2 trillion.

The positive performance was largely driven by renewed interest in bellwether and mid-cap stocks, with UAC of Nigeria Plc and Oando Plc posting the maximum daily gain of 10.00 per cent and 9.96 per cent respectively. Other notable gainers included Sunu Assurances Nigeria Plc, Sovereign Trust Insurance Plc, and Fortis Global Insurance Plc.

However, losses in Fidson Healthcare Plc, Mecure Industries Plc, Aluminium Extrusion Industries Plc, McNichols Plc, and Deap Capital Management & Trust Plc tempered the overall advance, with Fidson Healthcare Plc leading the laggards after shedding 10 per cent.

Sectoral performance closed predominantly in the green, underscoring broad-based investor confidence. The Oil and Gas index led the rally with a strong 4.52 per cent gain, followed by the Commodity index which climbed 2.33 per cent. The Insurance index rose 1.55 per cent, Consumer Goods gained 0.88 per cent, Industrial stocks advanced 0.17 per cent, while the Banking index edged marginally higher by 0.04 per cent.

Trading activity strengthened across key metrics, reflecting improved liquidity and participation. Total share volume increased by 11.41 per cent to 880 million units, while the number of deals rose 2.97 per cent to 86,761 transactions. Transaction value jumped 26.89 per cent to N44.51 billion.

Sterling Financial Holdings Company topped the volume chart with 56.82 million units traded, while Aradel Holding dominated the value chart with transactions worth ₦8.22 billion.

Market breadth remained largely balanced at 1.00x to 1.1x during the session, with 37 to 39 gainers slightly outpacing 35 to 37 decliners, signalling sustained investor appetite despite intermittent profit-taking.

Analysts say the continued upward trajectory reflects renewed confidence in fundamentally sound stocks, particularly within the Oil and Gas and Commodity segments, as investors position for earnings resilience and macroeconomic stability.

With the ASI now firmly above the 196,000 mark and YTD returns crossing 26 per cent, market watchers expect sentiment to remain cautiously optimistic in the near term, barring any significant macroeconomic shocks.

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