The Nigerian stock market showed signs of recovery on Tuesday, climbing by 0.10% and adding N94 billion to investors’ wealth after six consecutive bearish sessions. Driven by renewed interest in stocks including NCR Nigeria , Ikeja Hotel, Prestige Assurance, and Eunisell Interlinked, the market’s capitalization rose from N91.346 trillion to N91.440 trillion.
The All-Share Index gained 148.52 points, settling at 143,763.13, with market breadth favoring gainers at 23 against 20 losers. FG152028S1 led the gainers with a 230% rise, closing at N99. NCR Nigeria followed with a 9.98% increase to N45.20 per share, while Ikeja Hotel rose 9.86%, closing at N22.85. On the downside, Union Dicon Salt and Caverton Offshore Support Group lost 10% each.
Trading volume and value decreased slightly, with 556.2 million shares valued at N18.7 billion exchanged across 19,500 transactions. FirstHoldCo had the highest trading volume at 93.72 million shares, while STANBIC posted the highest transaction value totaling N3.21 billion.
This market uptick came in the wake of the Central Bank of Nigeria (CBN) Monetary Policy Committee’s decision to maintain the Monetary Policy Rate at 27%, along with the Cash Reserve Ratio and Liquidity Ratio unchanged, signaling stability in monetary policy.
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