The Nigerian equities market successfully snapped a six-day losing streak on Tuesday, November 25, adding N95 billion to investors’ portfolios.
This resurgence pushed total market capitalization to N91.441 trillion, while the benchmark All-Share Index (ASI) climbed 0.10% to settle at 143,763.13 points.
Buying interest in key lenders and conglomerates fueled the recovery, with Guaranty Trust Holding Co (GTCO) rising 1.4% and FirstBank Holdings (FBNH) gaining 1.5%.
Additionally, Sterling Bank surged 9.0% and UACN advanced 7.2%, helping lift the market’s Year-to-Date (YtD) return to a robust +39.7%.
Central Bank Policy Triggers Sentiment
Market watchers link this recovery directly to the Central Bank of Nigeria’s (CBN) latest move to hold monetary policy parameters steady. Investors reacted positively after the regulator’s 303rd Monetary Policy Committee (MPC) meeting kept rates unchanged, signaling a pause in aggressive tightening.
“The policy stance signalled stability to market participants, spurring interest in medium and large capitalised stocks,” said Tajudeen Olayinka, CEO of Wyoming Capital and Partners. He noted that the decision to keep the benchmark interest rate unchanged helped renew buying interest, particularly among cautious investors seeking policy clarity.
The banking regulator maintained the Monetary Policy Rate (MPR) at 27% and the Liquidity Ratio at 30%. Furthermore, the Cash Reserve Ratio (CRR) was set at 45% for commercial banks and 16% for merchant banks, with a 75% levy maintained on non-TSA public sector deposits.
Sentiment broadened across the trading floor as 26 stocks advanced against 20 that declined, showing a healthy appetite for risk. While the Banking Index grew 0.4% on renewed optimism, the Insurance and Oil & Gas sectors lagged, dropping 0.8% and 0.2% respectively.
Top 5 Gainers
- NCR Nigeria led the rally, jumping 9.98% to close at N45.20.
- Ikeja Hotel followed closely, climbing 9.86% to N22.85.
- Prestige Assurance rose by 9.56% to settle at N1.49.
- Eunisell appreciated by 9.49% to N86.50.
- SterlingNG rounded out the top five, up 8.96% to N7.30.
Top 5 Losers
- Union Dicon plunged 10.00% to N6.30.
- Caverton also dropped 10.00% to N4.95.
- Sunu Assurance fell 4.78% to N4.38.
- Lasco Assurance declined 4.58% to N2.50.
- AXA Mansard dipped 4.23% to N12.45.
Trading Volume and Value Trends
Despite the price recovery, overall activity moderated as trade volume dipped roughly 18.6% to 556.15 million units. FirstBank Holdings dominated the volume chart with 93.72 million shares, while Stanbic IBTC led by value with N3.21 billion traded.
Other key volume drivers included Access Holdings with 81.76 million shares and Fidelity Bank, which traded 41.79 million units. Meanwhile, total deals on the exchange stood at 19,500, with total value traded hitting N18.71 billion.