Jingle all the way to the bank! Nigerian stocks exploded Tuesday with a festive N578 billion gain, the 9th straight bullish day—fueled by the global Santa Claus rally lighting up the Nigerian Exchange (NGX).
Market cap surged 0.59% from N97.193trn to N97.771trn, All-Share Index leaped 895 points to 153,354.14, boosting YTD returns to a stellar 48.99%. Top gainers led the charge: Aluminium Extrusion +9.96% to N14.90, Austinlaz +9.81% at N2.91, Custodian Investment +9.69% to N38.50, First Holding +9.35% to N50.30, FTN Cocoa +8.74% to N5.10. Losers like Royal Exchange (-7.22% to N1.80), Champion Breweries (-6.57% to N15.65) couldn’t dim the vibe—29 gainers beat 27 decliners. VFD Group topped volume (192m shares), GTCO led value (N5.59bn).
Highcap’s David Adonri nailed it: Seasonal “Santa Claus Rally” magic, with portfolio rebalancing and year-end dividend chases driving buys. This end-of-year pattern often sees stocks pop 1-3% globally as funds window-dress and tax-loss sellers rebound—NGX’s riding the wave amid stable oil prices, naira steadiness, and festive spending hype. Watch for profit-taking soon, but YTD 49% screams bull market strength!
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