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Market capitalisation increased by ₦1.753 trillion to ₦164.913 trillion.
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The All-Share Index advanced by 1.07 percent to close at 253,990.06 points.
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Market breadth remained negative, with 20 gainers against 36 decliners, as Presco led the losers with a 10.00 percent decline.
October 27, (THEWILL) – The Nigerian Exchange Limited (NGX) sustained its upward momentum on Tuesday, as market capitalisation rose by ₦1.753 trillion to close at ₦164.913 trillion, up from ₦163.160 trillion at the opening.
The All-Share Index (ASI) also advanced by 2,699.52 points, representing a 1.07 percent increase from 251,290.54 to 253,990.06 points. The performance extended the market’s gains from Monday, when capitalisation increased by ₦2.641 trillion and the benchmark index rose by 1.65 percent.
Despite the positive movement in the headline indicators, market breadth remained weak. The session recorded 20 gainers against 36 decliners, indicating that losses were more widespread among listed equities even as the overall market valuation increased.
Top Gainers
- UPDC Real Estate Investment Trust advanced by 10.00 percent (₦17.50 to ₦19.25).
- Dangote Cement gained 9.80 percent (₦1,222.10 to ₦1,341.90).
- Honeywell Flour Mills rose by 9.67 percent (₦19.65 to ₦21.55).
- Ava Capital appreciated by 9.42 percent (₦6.90 to ₦7.55).
- Nigerian Aviation Handling Company gained 8.00 percent (₦140.00 to ₦151.20).
Top Decliners
- Presco fell by 10.00 percent (₦2,045.30 to ₦1,840.80).
- Tripple Gee declined by 9.93 percent (₦2.82 to ₦2.54).
- Thomas Wyatt Nigeria shed 9.85 percent (₦2.74 to ₦2.47).
- Austin Laz and Company lost 9.81 percent (₦2.65 to ₦2.39).
- Transnational Corporation of Nigeria declined by 9.70 percent (₦36.10 to ₦32.60).
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Several equities closed unchanged during the session, including HBM Nigeria, Okomu Oil Palm, Custodian Investment, John Holt Plc and UAC of Nigeria Plc, among others.
The session’s performance reflected a divergence between the benchmark index and the broader market. While the ASI and market capitalisation recorded further gains, the higher number of declining equities suggested that the advance was not broad-based.
Dangote Cement was among the leading gainers, rising by 9.80 percent to ₦1,341.90. Honeywell Flour Mills and Nigerian Aviation Handling Company also recorded notable advances, while UPDC Real Estate Investment Trust posted a 10.00 percent increase.
On the losing side, Presco recorded the steepest decline among the five leading decliners, falling by 10.00 percent to ₦1,840.80. Tripple Gee, Thomas Wyatt Nigeria, Austin Laz and Company, and Transnational Corporation of Nigeria also recorded losses exceeding 9.00 percent.
The continued rise in market capitalisation suggests that gains in selected equities were sufficient to lift the overall market valuation despite the negative breadth. However, the divergence between the benchmark indicators and the number of advancing stocks points to uneven investor sentiment across the Exchange.
Investors will be watching whether the market can sustain its upward movement in the next trading session and whether buying interest will spread to more listed companies. Further gains in major equities could support the benchmark, while continued declines across a wider range of stocks may limit the strength of the recovery.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
