Nigerian Stock Market Surpasses ₦70tn Mark as Airtel, Insurance Stocks Drive Bullish Rally



 The Nigerian Exchange (NGX) closed on a bullish note on Tuesday, as renewed investor interest in blue-chip stocks—particularly Airtel Africa and leading insurance firms—propelled the equities market capitalisation past the ₦70tn milestone.

At the close of trading, the All-Share Index (ASI) surged by 1,721.29 points, or 1.57%, to settle at 111,606.22 basis points. This rally led to a ₦1.09tn increase in market capitalisation, bringing it to ₦70.38tn, up from ₦69.29tn in the previous session.

The positive momentum was driven by a 10% gain in Airtel Africa, which closed at ₦2,372.50 per share, along with impressive performances by insurance stocks like Cornerstone Insurance and AXA Mansard.

Out of 126 equities traded, 36 advanced, 21 declined, while 69 remained unchanged.

Top Gainers

  • Omatek Ventures: +9.23% to ₦0.71

  • Cornerstone Insurance: +8.63% to ₦3.40

  • NAHCO: +8.39% to ₦80.75

  • UPDC: +6.47% to ₦5.10

  • AXA Mansard: +5.88% to ₦9.00

Top Losers

  • McNichols: -9.80% to ₦2.21

  • CWG (Computer Warehouse Group): -9.50% to ₦9.05

  • Champion Breweries: -7.38% to ₦6.90

  • Red Star Express: -4.62%

  • Jaiz Bank: -4.46%

Trading Activity

Despite the market rally, overall trading activity declined slightly:

  • Volume traded: 409.57 million shares (-1%)

  • Value of transactions: ₦9.87bn (-11%)

  • Number of deals: 15,992 (-19%)

Top Traded Stocks by Volume:

  • Custodian Investment: 37.6 million units

  • Fidelity Bank: 37 million units

  • Veritas Kapital Assurance: 33 million units

  • Zenith Bank: 27.4 million units

Sector Performance

  • Insurance Index: +2.23%

  • Main Board Index: +2.20%

  • Pension Index: +1.55%

  • Top 30 Index: +1.54%

  • Banking Index: +0.84%

  • Oil & Gas Index: +1.41%

Year-to-Date Gains

  • All-Share Index: +8.43%

  • Main Board Index: +10.86%

  • Pension Index: +16.08%

This bullish performance comes just a day after the market rebounded strongly, adding ₦539.98bn in market value and reversing last week's losses, according to PUNCH reports.

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