Nigerian Stock Market Gains N332 Billion, GTCO Leads

• Nigerian equities surged by N332 billion as investors chased industrial and consumer stocks.
• GTCO recorded the highest trading volume and value for the session.
• Market breadth remained tight, with gainers slightly outpacing losers.

The Nigerian stock market extended its bullish streak on Tuesday, adding N332 billion to investors’ portfolios as selected equities attracted renewed buying interest. Market capitalization rose from N106.16 trillion to N106.49 trillion, reflecting a 0.31 percent increase, while the All-Share Index climbed by 516.93 points to close at 165,901.57. Market sentiment remained positive, with 35 gainers outnumbering 34 decliners.

Trading was driven primarily by demand for industrial and consumer-oriented stocks, as investors looked to capitalize on short-term recovery trends. Austinlaz, Industrial and Medical Gases, Union Dicon Salt, Zichis Agro Allied Industries, and RT Briscoe were among the top performers, delivering substantial returns for shareholders.

Industrial and Consumer Stocks Drive Gains

Industrial and Medical Gases, Union Dicon Salt, Zichis Agro Allied Industries, and Austinlaz each rose by 10 percent, closing at N34.65, N9.90, N5.06, and N4.07 per share, respectively. RT Briscoe gained 9.95 percent, finishing at N9.50.

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On the other hand, Cutix and Omatek Ventures led losses with 10 percent declines, settling at N3.15 and N2.43, respectively. Union Homes Real Estate Investment fell 9.95 percent to N76.90, Sunu Assurances dropped 9.94 percent to N4.62, and Deap Capital Management declined 9.93 percent to N7.62.

GTCO Tops Trading Activity

A total of 736.4 million shares, valued at N24.7 billion, changed hands across 46,026 transactions, compared to 762.8 million shares worth N18.4 billion traded earlier in 55,374 deals. This represented a 3.45 percent drop in volume, a 17 percent decline in deals, and a 29 percent increase in market value.

GTCO led both volume and value, with 65.9 million shares traded at N6.53 billion, making up 8.95 percent of total volume and 26.47 percent of total value for the day. Analysts suggest that while optimism remains strong, selective profit-taking may appear in the coming sessions.