April 28, (THEWILL) — The Nigerian equities market reversed previous losses on Tuesday as bargain hunting in select stocks lifted key performance indicators on the Nigerian Exchange (NGX).
Market capitalisation rose by ₦3.21 trillion, climbing from ₦143.97 trillion at the opening of the session to ₦147.17 trillion at the close. Similarly, the All-Share Index (ASI) advanced by 4,977.51 points, moving from 223,602.29 to 228,579.80.
Market breadth remained slightly negative, with 42 decliners outweighing 39 gainers, indicating that the broader market sentiment was still cautious despite the overall rebound.
Top Gainers
Industrial & Medical Gases Nigeria led the gainers’ chart with a 10.00 percent increase, (rising from ₦36.00 to ₦39.60 per share).
FTN Cocoa Processors also gained 10.00 percent, (advancing from ₦5.00 to ₦5.50).
Shares of Lafarge Africa (WAPCO) climbed 10.00 percent, (moving from ₦295.00 to ₦324.50).
Austin Laz & Company appreciated by 9.71 percent, (rising from ₦3.40 to ₦3.73).
Presco Plc rounded out the top gainers with a 9.52 percent surge, (increasing from ₦2,100.00 to ₦2,300.00).
Top Decliners
On the losers’ table, United Bank for Africa led with a 10.00 percent decline, (dropping from ₦49.50 to ₦44.55).
Trans-Nationwide Express followed with a 9.99 percent loss, (sliding from ₦7.11 to ₦6.40).
Shares of Nascon Allied Industries fell 9.18 percent, (declining from ₦206.90 to ₦187.90).
Jaiz Bank shed 8.98 percent, (dropping from ₦8.80 to ₦8.01).
Julius Berger Nigeria (Berger) declined by 8.66 percent, closing at ₦68.00 from ₦74.45.
Several equities ended the session unchanged, including Okomu Oil Palm Company, Custodian Investment, Coronation Infrastructure Fund, Golden Guinea Breweries and Guinness Nigeria.
Investor sentiment remained mixed during the session. While strong buying interest in select industrial and consumer stocks lifted the market, persistent sell-offs in some banking and mid-cap equities tempered broader market optimism. Analysts note that the rebound reflects bargain hunting after recent declines, though investors remain selective as they assess earnings outlooks and macroeconomic signals.
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.
