Nigeria's equity market rebounded on Tuesday, adding 410.86 billion naira to its total value as renewed investor appetite for industrial, consumer goods and banking stocks drove the main indices higher. The All-Share Index climbed 632.79 points, or 0.26 per cent, to close at 245,911.13 basis points, according to NGX data. Market capitalisation of listed equities expanded to 159.67 trillion naira at the end of the session, recovering a portion of losses from the previous day. The rebound occurred as the Central Bank of Nigeria maintained its Monetary Policy Rate at 23.00 per cent.
Broad gains across sector indices reflected investor confidence. The NGX Industrial Index surged to 10,258.95 points from 10,140.51 points, while the NGX Consumer Goods Index advanced to 4,042.08 points. The NGX Premium Index added 168.89 points to 30,540.53, and the NGX 30 Index edged higher to 9,043.59 points. Only the Banking Index and Insurance Index softened slightly, with the Banking Index falling to 2,493.34 points from 2,497.01 points.
Individual stock performances showed strong investor demand in select mid-cap and high-cap equities. Austin Laz & Company Plc leapt 9.97 per cent to 3.53 naira per share, while Cutix Plc recorded a 9.91 per cent gain to 2.33 naira. ABC Transport Plc surged 9.92 per cent to 6.65 naira, Thomas Wyatt Nigeria Plc rallied 9.77 per cent to 2.92 naira, and Caverton Offshore Support Group Plc added 9.76 per cent to reach 4.50 naira. Heavy-weight industrial player HBM Nigeria Plc appreciated 6.76 per cent to 379 naira per share. Other notable gainers included Nascon Allied Industries Plc, which climbed 7.31 per cent to 183.50 naira, and Unilever Nigeria Plc, which surged 5.83 per cent to 109 naira.
Losses were concentrated in agricultural and insurance stocks facing profit-taking. Livestock Feeds Plc shed 9.76 per cent to 17.10 naira per share, while Guinea Insurance Plc dropped 7.78 per cent to 0.83 naira. NPF Microfinance Bank Plc dropped 5.75 per cent to 4.10 naira, and AIICO Insurance Plc slipped 3.06 per cent to 3.80 naira. Total turnover across the equities segment reached 348.69 million shares valued across 32,588 executed deals.
For savers and investors in Nigeria, the market's recovery signals renewed appetite for equities despite the Central Bank maintaining high interest rates, though currency and inflation risks remain present in the broader economy.