Nogeria’s equities market sustained Tuesday’s bullish run as the All-Share Index (ASI) gained 0.3 per cent, closing at 98,509.68 points.

This upward movement added N183.5 billion to the market capitalisation, pushing it to N59.72 trillion—just N280 billion shy of the N60 trillion milestone.

The rally was driven by significant advances in key stocks, including Aradel Holdings (+7.5%), Conoil (+10.0%), and WAPCO (+1.5%).

Gains in tier-1 banking heavyweights like Zenith Bank (+0.23%) and FBN Holdings (+0.19%) further bolstered market performance, offsetting losses in Access – Corp (-0.41%), Transcorp (-0.34%), and Dangote Sugar (-0.43%).

The Oil & Gas sector led the charge, rising by 2.6 per cent, followed by Insurance (+2.3%), Industrial Goods (+0.2%), and Banking (+0.1%). The Consumer Goods index was flat, reflecting subdued activity.

Despite the market’s gains, trade turnover dipped sharply. The total volume of trades fell by 66.8 per cent to 311.26 million shares, valued at N6.35 billion across 7,799 transactions.

ETranzact was the most traded stock by volume, exchanging 70.27 million shares, while Aradel Holdings topped the value chart with trades worth N1.22 billion.

Market sentiment remained upbeat, with 33 stocks advancing against 17 decliners. Afriprud (+10.0%) and Conoil (+10.0%) led the gainers, while Julius Berger (-10.0%) and NSL Tech (-9.5%) recorded the steepest losses.

The robust performance of tier-1 banking stocks and oil sector players underscores strong investor confidence, pushing Year-to-Date (YTD) returns to an impressive 31.7 per cent.

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