The Nigerian Exchange (NGX) closed on a positive note on Tuesday, as renewed investor confidence pushed the All-Share Index (ASI) above the 149,000-point threshold for the first time, signaling a bullish start to the week’s trading.

The benchmark index advanced by 963.17 points, or 0.65%, to close at 149,940.81, up from 148,977.64 in the previous session. Market capitalization also rose by approximately ₦611 billion, settling at ₦95.17 trillion, compared to ₦94.56 trillion on Monday.

Top Gainers

Leading the day’s rally, UNIONDICON emerged as the top-performing stock with a 10% gain, closing at ₦8.80 per share. EUNISELL followed closely, appreciating by 9.92% to ₦53.20 per share.
Other major gainers included SOVRENINS (+6.44%), BUA Cement (+6.25%), and ENAMELWA (+6.01%).

Top Losers

On the flip side, JULI and THOMASWY topped the losers’ chart, declining by 9.94% and 9.63%, respectively.

Sector Performance

Performance across sectors was largely positive, with the industrial goods sector leading the charge, gaining about 2.34%. The banking, consumer goods, and oil & gas indices also recorded mild upticks, while the insurance sector fell by 0.70%, reflecting profit-taking in select counters.

Market Breadth and Activity

Despite the positive close, market breadth remained weak, as 30 gainers were recorded against 33 losers. Total trading volume dropped by 14.9%, although the value of trades surged by nearly 60%, indicating fewer but larger transactions.

Analysts attribute the sustained uptrend to renewed interest in value and industrial stocks, driven by anticipation of Q3 earnings reports and improving market sentiment. However, they caution that short-term volatility may persist as investors continue to reposition their portfolios ahead of upcoming corporate releases.

The NGX’s performance suggests a possible test of the 150,000-point psychological barrier if buying momentum continues through the week.