NGX gains N1.75trn as industrial stocks rally 5.5%

The Nigerian equities market gained ₦1.75 trillion in value on Tuesday as a strong rally in industrial goods stocks lifted the benchmark index, pushing the market’s year-to-date return to 63.22 per cent despite persistent selling pressure across several listed companies.

The Nigerian Exchange All-Share Index rose by 1.07 per cent to close at 253,990.06 points, while market capitalisation increased to ₦164.91 trillion from the previous session’s level.

The latest gain extended the market’s positive performance, with the industrial goods sector providing the strongest support after its index advanced by 5.50 per cent, outweighing losses in insurance, oil and gas, and commodity stocks.

However, market breadth remained weak, reflecting the uneven distribution of gains across listed equities. Only 20 stocks appreciated, against 36 decliners, leaving market breadth at 0.56 times and indicating that the benchmark’s advance did not reflect the performance of the broader market.

UPDC Real Estate Investment Trust, Dangote Cement, Honeywell Flour Mills, Africa Prudential and Nigerian Aviation Handling Company emerged among the session’s leading gainers, while Presco, Tripple Gee and Company, Thomas Wyatt Nigeria, Austin Laz and Company, and Transnational Corporation of Nigeria recorded the biggest losses.

Sectoral performance was mixed. Beyond the 5.50 per cent advance in industrial goods, the consumer goods index gained 0.05 per cent, while the banking index edged up by 0.01 per cent.

On the losing side, the insurance index declined by 2.44 per cent, making it the worst-performing sector during the session. The commodity index fell by 1.04 per cent, while the oil and gas index shed 0.01 per cent.

Trading activity recorded sharp increases in both volume and transaction value, although the number of deals declined, suggesting that turnover was concentrated in fewer transactions involving substantially larger quantities of shares.

A total of 35,946 deals involving 5.23 billion shares valued at ₦441.47 billion were recorded on the Exchange.

Trading volume surged by 1,488.14 per cent, while transaction value jumped by 1,634.62 per cent compared with the preceding session. In contrast, the number of deals fell by 17.74 per cent.

The simultaneous increase in volume and value, alongside the decline in deal count, marked a significant shift in trading activity. However, the figures alone do not establish whether the surge reflected institutional transactions, block trades or other large-volume deals.

The market’s latest performance comes amid continued investor positioning in selected equities, with price movements reflecting differences in demand across sectors and individual stocks.

While the benchmark’s advance points to renewed buying interest, the negative market breadth suggests that investors remained selective, with losses in 36 stocks outnumbering gains by 16.

Market analysts expect the equities market to sustain its positive momentum in the near term, supported by renewed buying interest, bargain-hunting opportunities and investor preference for companies with strong fundamentals.

The All-Share Index’s 63.22 per cent year-to-date return nevertheless underscores the scale of the market’s advance in 2026, even as Tuesday’s trading session showed that the gains were not shared evenly across the market.