NGX Adds N1.66tn Amid Continued Bullish Momentum.

The Nigerian Exchange Limited extended its bullish momentum on Tuesday as strong demand for key stocks lifted total market capitalisation by N1.66tn, reflecting positive investor sentiment in the equities market. At the close, total market capitalisation rose to N106.18tn from N104.52tn in the previous session, while the All-Share Index gained 1.59 per cent, settling at 165,837.33 points compared with 163,244.69 points on Monday. Market activity was mixed during the session, with 1.13 billion shares valued at N33.54bn traded across 49,181 deals. This represented a 2 per cent decline in volume and a 17 per cent drop in the number of deals compared with the prior trading day. Turnover, however, surged by 75 per cent, reflecting increased participation in higher-priced stocks. Overall, 128 equities were active, with market breadth strongly positive as 55 stocks gained and 13 declined, showing broad-based buying across sectors. MTN Nigeria led the gainers with a 10 per cent rise to close at N605.00 per share, followed by PZ Cussons Nigeria, which also gained 10 per cent to N58.30. E-Tranzact International advanced 10 per cent to N18.15, Caverton Offshore Support Group rose 10 per cent to N7.70, and DEAP Capital Management & Trust Plc gained 10 per cent to N3.63. Ellah Lakes Plc appreciated by 9.97 per cent to N17.10. On the losers’ side, Universal Insurance Company Plc led with a 6.25 per cent decline to N1.20, followed by Prestige Assurance Company, which fell 5.81 per cent to N1.62. Regency Alliance Insurance dropped 5.17 per cent to N1.10, Academy Press Plc lost 5.06 per cent to N7.50, and Royal Exchange Plc declined 3.98 per cent to N1.93. Austin Laz & Company Plc also fell 2.94 per cent to N3.96. In trading volumes, Sovereign Trust Insurance Plc topped the chart with 344 million shares exchanged, followed by Access Holdings Plc (86.2 million), E-Tranzact International (61.1 million), and Linkage Assurance Plc (49.9 million). Analysts attributed the market rally to sustained demand for large-cap and fundamentally strong stocks, particularly in telecoms and financial services. They noted that the rise in turnover despite lower volumes indicates increased investor interest in higher-value equities and that the ability to sustain gains could bolster market confidence and encourage further participation in the near term.