Stock market edges 0.46% higher as 65 stocks gain

The Nigerian stock market sustained its upward momentum on Tuesday, buoyed by price gains in Jaiz Bank, MEYER, and 63 other stocks, continuing a winning streak that began late last year.

The All Share Index (ASI) rose 0.46%, closing at 159,951.08 points, up from 159,215.48 at the previous session. Market capitalisation also gained N468 billion, closing at N102.275 trillion from N101.807 trillion, reflecting the positive market sentiment.

A total of 759 million shares changed hands in 54,212 deals, with a combined value of N19.9 billion.

Market breadth

Market breadth was positive, with 65 stocks recording gains against 22 decliners.

Top gainers

Jaiz Bank and MEYER led the gainers, each closing 10% higher at N5.28 and N14.30 respectively, up from N4.80 and N13.00. Other notable gainers included ABC Transport (+9.98%), AUSTINLAZ (+9.94%), and Living Trust Insurance (+9.94%).

Top losers

On the flip side, ALEX led the decliners, shedding 9.96% to close at N21.70 from N24.10. LEARNARICA (-9.16%), OANDO (-7.69%), and UBA (-6.22%) also posted losses.

Volume drivers

Linkage Assurance topped the volume table, trading approximately 52 million shares in 175 deals, valued at N93 million. Sterling Bank followed with about 49 million shares in 609 deals, worth N369 million, while ACCESSCORP traded 49 million shares in 2,884 deals, valued at N1.17 billion.

The market’s positive performance reflects growing investor confidence, driven by price rallies in key counters across the banking, insurance, and industrial sectors.