The Nigerian equities market closed on a bullish note on Tuesday, July 2, as the All-Share Index (ASI) surged by 598.67 points to end the session at 120,339.9. This represents a 0.50% gain from the previous day’s close of 119,741.2, marking a significant return above the 120,000 threshold.
Trading activity saw a sharp uptick, with total volume soaring to 1.04 billion shares—nearly twice the 527 million shares exchanged in the previous session. Market capitalization followed suit, rising to N76.1 trillion across 21,964 deals, thereby reclaiming the N76 trillion level.
Gainers and Losers
The top-performing stocks of the day—CUTIX, ELLAHLAKES, SMURFIT, NSLTECH, and OMATEK—all hit the upper limit, each gaining 10.00%.
On the downside, DEAPCAP led the laggards with a 9.09% drop, followed by JOHNHOLT which shed 5.41%, DANGSUGAR down 5.32%, UNIVINSURE off 4.76%, and OANDO declining by 4.73%.
Most Active Stocks by Volume
ROYALEX topped the volume chart with 218.6 million shares traded, while JAPAULGOLD followed closely with 174 million shares. ELLAHLAKES continued its momentum with 83.4 million shares, while WEMABANK and CHAMS posted 71.1 million and 37.5 million shares, respectively.
Highest Value Trades
In terms of value, WEMABANK led the session with trades worth N1.06 billion, trailed by Nigerian Breweries (NB) with N1.05 billion. ZENITHBANK recorded N975.4 million, ELLAHLAKES came in with N762.2 million, and ACCESSCORP closed out the top five with N706.1 million.
SWOOTs and FUGAZ Performance
Among the SWOOTs (Stocks Worth Over One Trillion Naira), International Breweries advanced 7.91%, Nigerian Breweries gained 3.33%, WAPCO rose 3.03%, and ARADEL edged up 0.10%.
In the FUGAZ banking group:
ZENITHBANK climbed 1.69%
ACCESSCORP rose 0.87%
UBA advanced 0.42%
FBNH closed flat
GTCO slipped slightly by 0.31%
Market Outlook
Tuesday’s rally signals a resurgence of buying interest, particularly in large-cap and actively traded stocks, pushing the ASI back above the 120,000 mark. If this momentum persists, analysts anticipate further upside potential in the coming sessions, reinforcing investor optimism and confidence in the market’s near-term trajectory.
