The Nigerian Exchange maintained its upward trajectory on Tuesday as overall market capitalisation surpassed the N132 trillion threshold for the first time, propelled by substantial gains across 40 listed equities. The benchmark All-Share Index advanced by 1,372.52 points, representing a 0.67% increase, to settle at 205,831.38 points at the close of the trading session.
The aggregate market capitalisation added N883 billion to reach N132.492 trillion during the session, reflecting renewed investor appetite for large and medium-capitalised stocks. Seplat Energy, the Nigerian Exchange Group, Stanbic IBTC Holdings, Lafarge Africa, and MeCure Industries anchored the bullish performance, with market breadth reflecting broad-based optimism at 40 advancing stocks against 21 decliners.
Ecobank Transnational Incorporated and Stanbic IBTC Holdings emerged as the primary catalysts, with both banking-sector heavyweights rallying exactly 10% to close at N4.60 and N161.70 per share respectively. The Nigerian Exchange Group followed closely, appreciating 9.97% to end the session at N168.75 per share. Cornerstone Insurance advanced 9.94% while pharmaceutical firm MeCure Industries climbed 9.92% to round out the top performers.
On the opposite end of the spectrum, Fortis Global Insurance led the decliners after shedding 8.20% to close at N1.12 per share. McNichols Consolidated dropped 8.17% and educational publisher Academy Press retreated 6.96% during the session.
Trading liquidity received a notable boost, with total volume traded increasing by 21.13% to 569.309 million units valued at N32.250 billion across 45,777 deals. Access Holdings dominated activity by volume with 67.530 million shares worth N1.746 billion, while Zenith Bank led in value terms with 39.741 million shares exchanged for N4.50 billion. VFD Group, Guaranty Trust Holding Company, and Lasaco Assurance also featured prominently among the most-traded equities.
Analysts at Futureview Group indicated that the market is expected to sustain its positive bias in the near term as investors continue positioning in fundamentally sound stocks, though they cautioned that intermittent profit-taking could temper the upside in coming weeks.