June 23 (THEWILL) — The Nigerian Exchange (NGX) reversed its recent losing streak on Tuesday, as renewed buying interest in large-cap and mid-cap stocks pushed key market indicators higher.
Market capitalisation gained ₦1.64 trillion to close at ₦154.484 trillion, up from ₦152.845 trillion at the start of trading. Similarly, the All-Share Index (ASI) advanced by 2,524 points to settle at 240,743.19, compared with the opening level of 238,219.19.
Investor sentiment closed firmly positive, with 33 gainers outweighing 23 decliners, reflecting broad-based demand across the market.
Top Gainers
Leading the advancers’ chart was Guinea Insurance, which appreciated by 10.00 percent (from ₦1.00 to ₦1.10).
It was followed by Airtel Africa, which gained 10.00 percent (to rise from ₦3,962.60 to ₦4,358.80).
International Energy Insurance advanced by 9.89 percent, (moving from ₦5.56 to ₦6.11).
Tripple Gee & Company climbed 9.82 percent (from ₦3.36 to ₦3.69).
Cornerstone Insurance rounded off the top five gainers after adding 9.76 percent, (rising from ₦6.15 to ₦6.75 per share).
Top Decliners
On the losers’ table, Red Star Express shed 9.96 percent, (declining from ₦27.60 to ₦24.85).
Premier Paints fell by 9.93 percent (from ₦33.75 to ₦30.40).
Trans-Nationwide Express dropped 9.82 percent (from ₦4.48 to ₦4.04).
Royal Exchange lost 9.38 percent (to close at ₦1.45 from ₦1.60).
Abbey Mortgage Bank declined by 9.29 percent (from ₦9.15 to ₦8.30).
Meanwhile, several heavyweight counters, including Dangote Cement, Custodian Investment, Julius Berger, Champion Breweries, Cadbury Nigeria and Nestlé Nigeria, closed unchanged during the session.
The positive market breadth of 33 gainers against 23 losers underscores improving investor confidence and renewed appetite for equities following recent market weakness. The sharp appreciation in Airtel Africa also provided significant support to overall market performance.
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.
