The Nigerian stock market saw a turnaround on Tuesday, posting a gain of 0.22%, or N131 billion, after six consecutive sessions of decline.
Market capitalisation, which started at N58.721 trillion, rose by N131 billion to close at N58.852 trillion.
Similarly, the All-Share Index climbed by 216 points, or 0.22%, to reach 97,123.61 points from Monday’s 96,907.73. This positive shift lifted the Year-To-Date (YTD) return to 29.89%.
Renewed interest in top-tier banking stocks, including Zenith Bank, FBN Holdings, United Bank For Africa (UBA), Access Corporation, and Fidelity Bank, helped drive market gains.
Positive sentiment also saw market breadth close with 26 gainers and 21 losers.
In the gainers’ category, Conoil led with a rise of N18.80 to close at N208.10, followed by John Holt, which increased by 36k to N3.99, and Eunisell Ltd., which added 61k to close at N6.79 per share.
UBA advanced by N3.15 to close at N35.05, while PZ gained N1.95 to close at N24.95 per share.
Among the losers, Oando fell by N8.05 to close at N72.65, while Daar Communications dropped by 6k to close at 56k per share.
Regency Alliance Insurance, Veritas Kapital, and Guinea Insurance also recorded losses of 3k, 8k, and 2k, respectively.
Market activity surged, with trade turnover increasing by 79.64% compared to the previous session.
A total of 3.60 billion shares valued at N25.57 billion were exchanged in 10,679 deals, up from 1.22 billion shares worth N14.23 billion in 10,386 deals previously.
Sovereign Trust Insurance topped the volume chart with 2.50 billion shares traded, while UBA led in transaction value, contributing N6.74 billion.