The Nigerian equities market extended its bullish run on Tuesday, with the All-Share Index (ASI) of the Nigerian Exchange Limited (NGX) soaring past the 132,000 psychological threshold, as investors continued to show renewed confidence in fundamentally strong stocks. Dangote Sugar Refinery Plc led the list of gainers, while Access Holdings Plc (ACCESSCORP) emerged as the most traded equity by volume.
Market data accessed revealed that the ASI advanced by 0.21% to settle at 132,104.18 points, marking a new record high and reflecting the persistent positive sentiment driving trading activity in recent weeks. The overall market capitalisation also rose to ₦74.79 trillion, further consolidating the bourse’s impressive year-to-date performance.
Dangote Sugar, a major player in Nigeria’s consumer goods sector, was the star performer of the day, appreciating significantly as investors reacted positively to its strong earnings outlook and expectations around sectoral reforms in the sugar industry. The company’s stock gained over 9% during the session, buoyed by rising demand among institutional and retail investors.
Meanwhile, ACCESSCORP dominated the activity chart with the highest volume of traded shares, as over 81 million units exchanged hands, indicating strong investor interest in the financial services giant. The banking group continues to attract attention following its recent earnings release and strategic expansion efforts across the continent.
Other notable gainers included companies in the industrial goods and banking sectors, contributing to the broad-based rally seen across multiple counters. Analysts attribute the positive trend to a mix of improved corporate earnings, cautious optimism ahead of second-half economic policies, and increased participation from domestic institutional investors.
While market breadth closed on a positive note, some profit-taking was also observed in select counters that had posted significant gains in previous sessions. Nonetheless, overall sentiment remains upbeat, with trading volumes and value steadily climbing.
Investors and analysts will now be closely watching corporate disclosures and macroeconomic indicators, including inflation figures and fiscal policy pronouncements, for cues on the market’s direction in the coming weeks. For now, the NGX appears to be on a strong upward trajectory, powered by strategic buys in key sectors and growing investor appetite for equities amidst limited alternative investment options.
