Nigeria: NGX Gains ₦92bn as Insurance Stocks Fuel Market Momentum

The Nigerian Exchange (NGX) sustained its bullish momentum on Tuesday, adding ₦92 billion to market capitalisation as renewed investor interest in insurance stocks lifted overall performance.

The market capitalisation climbed to ₦92 trillion, while the All-Share Index advanced by 172.48 points, or 0.12%, to close at 144,995.26. This brings the market’s week-to-date gain to 1.84%, four-week rise to 4.02%, and year-to-date growth to an impressive 40.87%.

Trading data revealed that investors exchanged 507.4 million shares valued at ₦24.28 billion across 30,665 deals — reflecting a 2% decline in volume, a 67% surge in turnover, and a 14% drop in the number of deals compared to Monday’s session.

Out of 127 listed equities traded, 38 recorded gains while 35 declined. Cornerstone Insurance led the gainers’ chart with a 9.92% increase to close at ₦6.65 per share, followed by Consolidated Hallmark Holdings, which rose by 9.52%. Other top performers included Chams (+9.22%) and VFD Group (+9.17%).

On the flip side, Livingtrust Mortgage Bank topped the losers’ list, shedding 10% to close at ₦5.94 per share. Austin Laz & Company declined by 9.74%, Juli Plc dropped 9.6%, and Livestock Feeds fell by 7.5%.

In trading activity, Access Holdings recorded the highest volume with 45.9 million shares valued at ₦1.19 billion, followed by Ellah Lakes with 39.5 million shares, Chams with 30.8 million, and Sovereign Trust Insurance with 27.8 million shares.

By value, Aradel Holdings led the chart with ₦13.16 billion worth of transactions, followed by Dangote Cement (₦1.57 billion), Access Holdings (₦1.19 billion), Lafarge Africa (₦644.66 million), and Ellah Lakes (₦594.31 million).

Sectoral performance was largely positive. The Insurance Index gained 1.98%, the Premium Index advanced 1.06%, the Industrial Index rose 0.69%, and the Consumer Goods Index added 0.26%.

This follows Monday’s bullish session, when investors extended their buying streak, pushing market capitalisation up by ₦786 billion to close at ₦91.9 trillion.

The sustained uptrend highlights renewed confidence in the equities market, particularly in the insurance sector, which continues to attract growing investor attention amid improved performance and valuation prospects.