October 07, (THEWILL) — Trading on the Nigerian Exchange Limited closed on a positive note on Tuesday as renewed interest in select financial and insurance stocks lifted market performance despite mild profit-taking in other sectors.
The All-Share Index rose slightly from 144,822.78 points to 144,995.26 points, while market capitalisation inched up from ₦91.92tn to ₦91.93tn, representing a marginal gain of 0.12 per cent.
Market sentiment remained mixed, with 36 gainers and 34 losers recorded at the close of trading, indicating cautious optimism among investors.
Top Gainers
CORNERSTONE (+9.92%, ₦6.05 to ₦6.65)
CONHALLPLC (+9.52%, ₦3.99 to ₦4.37)
CHAMS (+9.22%, ₦4.23 to ₦4.62)
VFDGROUP (+9.17%, ₦10.90 to ₦11.90)
INTENEGINS (+8.82%, ₦2.72 to ₦2.96)
The upward movement in these counters reflected sustained investor confidence in the insurance and financial services sectors, buoyed by improving fundamentals and steady demand.
Top Losers
LIVINGTRUST (-10.00%, ₦6.60 to ₦5.94)
AUSTIN LAZ (-9.74%, ₦3.49 to ₦3.15)
JULI (-9.60%, ₦9.90 to ₦8.95)
LIVESTOCK (-7.50%, ₦8.00 to ₦7.40)
TANTALIZER (-6.45%, ₦2.48 to ₦2.32)
Losses in these stocks were largely driven by profit-taking and mild sectoral corrections, particularly in the consumer goods and industrial segments.
Sectoral Performance
Investor activity showed sector rotation, with the insurance sector leading market advances, while energy and industrial stocks remained broadly stable. Counters such as SEPLAT Energy, PRESCO Plc, JOHN HOLT Plc, JULIUS BERGER, and GOLDEN GUINEA Breweries closed unchanged as investors maintained a wait-and-see approach.
Investor Outlook
Analysts said the narrow gap between gainers and losers reflected mixed sentiment and possible short-term volatility. They advised investors to monitor macroeconomic developments, liquidity trends, and sector performance before making new investment decisions.
Outlook for Next Session
With sustained interest in insurance and select financial stocks, the market may extend its modest gains if buying pressure continues. However, further profit-taking could limit overall performance. The outlook remains cautiously optimistic, driven by selective positioning and moderate investor confidence.
Ogochukwu Onwaeze
