Lagos: Nigerian stocks staged a strong comeback Tuesday, rebounding from a one-day dip as investors gained N3.205 trillion.
Strong investor demand in consumer, energy, and industrial stocks fueled the upward trend.
Industrial and Medical Gases, FTN Cocoa Processors, WAPCO, Austinlaz, Presco, and 34 other gainers lifted the market into positive territory as renewed investor interest targeted these stocks.
Market capitalisation increased from N143.969 trillion to N147.174 trillion, representing a 2.23 per cent rise.
The All-Share Index advanced by 4,977.51 points, or 2.23 per cent, to close at 228,579.80 from 223,602.29.
This led to a Year-to-Date return of 46.89 per cent.
However, the market breadth recorded 42 losers against 39 gainers, resulting in a negative close.
UBA topped the losers, dropping 10% to N44.55. Trans-Nationwide Express fell 9.99% to N6.40.
Similarly, National Salt Company lost 9.18 per cent, ending the session at N187.90 per share.
Also, Jaiz Bank dipped by 8.98 per cent, closing at N8.01, and Berger Paints fell by 8.66 per cent, settling at N68 per share.
WAPCO, Industrial and Medical Gases, and FTN Cocoa Processors led the gainers, each rising 10% to N324.50, N39.60, and N5.50.
Similarly, Austinlaz gained by 9.71 per cent, finishing at N3.73, while Presco rose by 9.52 per cent, closing at N2,300 per share.
Analysis of market activity revealed an increase in value and volume, but a decline in deals, as 907.96 million shares worth N68.23 billion were traded across 72,886 transactions.
This is in contrast to the previous session’s 678.2 million shares valued at N44.14 billion, traded in 82,838 deals.
Access Corporation led the volume chart with 219.5 million shares worth N5.78 billion, while Nestlé topped the value chart with transactions worth N15.27 billion.