Nigerian Stock Market Adds ₦189bn as JapaulGold, Fidelity Lead Surge in ₦17.1bn Turnover

The Nigerian Exchange (NGX) added approximately ₦189 billion in market capitalisation on Tuesday as the All Share Index (ASI) advanced by 0.27% to close at 111,902.61 points. Total market capitalisation rose to ₦70.56 trillion, with year-to-date returns now at 8.72%. Investors exchanged 512.17 million shares across 16,711 deals valued at ₦17.12 billion.

Volume Drivers: JapaulGold, Fidelity Bank, Custodian Investment

Market turnover was powered by robust trading in JapaulGold, which recorded 58.9 million shares valued at ₦117 million. Fidelity Bank followed with 48.2 million shares traded for ₦883.6 million, while Custodian Investment posted a strong showing with 37.5 million shares worth ₦756 million. GTCO and FCMB also saw heavy activity, helping maintain liquidity in the financial sector.

Top Gainers: Learn Africa, NNFM, Honeywell Flour

Learn Africa topped the gainers’ chart with a full 10% increase to ₦4.51. Northern Nigeria Flour Mills (NNFM) surged 9.98% to ₦130.55, and Honeywell Flour added 9.95% to close at ₦21.00. Omatek (+9.86%) and ABC Transport (+9.26%) also made strong upward moves, reflecting growing interest in mid-tier industrial and logistics firms.

Biggest Losers: Academy Press, Abbey Mortgage, Sky Aviation

On the losing end, Academy Press shed 10% to close at ₦4.05. Abbey Mortgage Bank declined 9.96% to ₦6.87, and Sky Aviation dropped 9.94% to ₦59.80. Enamelware and Multiverse rounded out the top five laggards with losses of 9.88% and 9.55%, respectively.

Sector Moves and Corporate Activity

Investor focus remained on dividend-paying stocks. Fidelity Bank’s steady performance followed its recent dividend payout of ₦1.25 per share. Custodian Investment, GTCO, and Zenith Bank also continued to attract attention amid earnings season. Meanwhile, Learn Africa’s jump reflects broader optimism in the education and publishing space.

Macroeconomic Backdrop

With inflation at 23.71% and the Central Bank’s MPR holding at 27.5%, equities continue to serve as a hedge against rising prices. Nigeria’s Q4 2024 GDP growth of 3.84% adds to cautious investor optimism, though the high interest rate environment is likely to shape capital allocation strategies in the near term.

Tags: Nigerian Stock Exchange, NGX, JapaulGold, Fidelity Bank, Learn Africa, NNFM, Nigerian Equities, Market Capitalisation, ASI, Cowry Asset

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