Nigeria's stock market surged on Tuesday as fresh buying momentum swept through the exchange. Investors pocketed N720 billion in gains as the market capitalisation climbed 0.46 per cent to N155.849 trillion from N155.129 trillion a day earlier.
The All-Share Index jumped 1,121.33 points, or 0.46 per cent, to settle at 242,870.44, up from Monday's close of 241,749.11. Medium and large-cap stocks led the recovery, particularly those in banking, insurance, consumer goods and real estate.
Financial stocks dominated the gainers' list as investors signalled renewed confidence in banks and insurers. The market's year-to-date return expanded to 56.07 per cent with 26 gainers outpacing 23 losers.
Learn Africa topped the gainers' chart, rallying 10 per cent to N9.90 per share. Firstholdco followed with a 9.98 per cent jump, closing at N72.15, while Thomas Wyatt Nigeria added 9.80 per cent to finish at N2.69.
Nigeria Real Estate Investment Trust climbed 9.71 per cent to N113, and RT Briscoe advanced 8.68 per cent to N13.15. On the flip side, International Energy Insurance led declines, dropping 9.86 per cent to N4.66 per share.
Legend Internet fell 9.18 per cent to N4.45, and Fortis Global Insurance shed 7.67 per cent, ending at N2.77. FTN Cocoa Processors slipped 7.55 per cent to N8.21, while International Breweries dipped 4.79 per cent to N13.90.
Trading activity picked up noticeably during the session. Total volume surged 21.25 per cent to 634.78 million shares valued at N53.34 billion across 42,494 transactions.
First HoldCo emerged as the day's most active stock, with 326.92 million shares worth N22.33 billion changing hands. This represented 51.50 per cent of total volume and 41.87 per cent of total value traded.
