May 19, (THEWILL) — Nigeria’s equities market sustained its upward momentum on Tuesday as the benchmark indices closed higher, driven by renewed buying interest in select mid- and small-cap stocks.
At the close of trading, market capitalisation rose from ₦160.362 trillion at the opening of the session to ₦161.279 trillion, reflecting a gain of ₦917 billion.
Similarly, the NGX All-Share Index advanced from 250,204.83 points to 251,635.42 points, indicating a positive market breadth despite a slightly higher number of decliners.
The trading session recorded 27 gainers against 33 losers, suggesting that while the market closed in positive territory, profit-taking persisted in several counters.
Gainers
Leading the gainers’ chart was FTN Cocoa Processors Plc, which appreciated by 10.00 percent, (rising from ₦8.90 to ₦9.79).
It was followed by Zichis Agro-Allied Industries Plc, which gained 9.97 percent (to close at ₦29.13 from ₦26.49).
Skyway Aviation Handling Company Plc advanced by 9.79 percent, (climbing from ₦142.95 to ₦156.95).
Caverton Offshore Support Group Plc rose 9.76 percent (to ₦6.75 from ₦6.15).
Also on the gainers’ list was Japaul Gold & Ventures Plc, which appreciated by 9.73 percent, (closing at ₦3.72 from ₦3.39).
Decliners
On the decliners’ side, Unilever Nigeria Plc led the losers’ chart, dropping -10.00 percent (from ₦170.00 to ₦153.00).
Trans-Nationwide Express Plc declined by -9.92 percent (to ₦6.99 from ₦7.76).
Sovereign Trust Insurance Plc shed -9.81 percent, (closing at ₦2.39 from ₦2.65).
Also among the laggards was McNichols Plc, which fell -9.26 percent (from ₦7.99 to ₦7.25).
Austin Laz & Company Plc lost -7.28 percent, (closing at ₦4.20 from ₦4.53).
Several heavyweight stocks closed flat during the session, including Dangote Cement Plc, Lafarge Africa Plc, Julius Berger Nigeria Plc, Nestlé Nigeria Plc, Champion Breweries Plc, and PZ Cussons Nigeria Plc, among others.
Investor sentiment remained cautiously optimistic as buying interest in select industrial and service sector stocks helped sustain the market’s upward trajectory.
However, the higher number of decliners indicates continued profit-taking following recent rallies in several counters.
Market analysts expect trading in the coming sessions to remain mixed as investors continue to rebalance portfolios, monitor macroeconomic signals, and position ahead of potential corporate disclosures and broader economic policy developments.
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.
