Nigeria’s equities market sustained its positive momentum on Tuesday, advancing by 0.29 percent on the back of renewed investor appetite for select stocks including E-Tranzact International, Mecure Industries, and Regency Assurance. It marked the market’s second gain this week.
The standout performer was E-Tranzact International, whose shares surged 9.73 percent from N11.30 to N12.40. The rally followed the disclosure that the Federal Inland Revenue Service (FIRS) has approved the firm as a certified provider for its nationwide electronic invoicing (e-invoicing) rollout. Analysts say the approval positions E-Tranzact for stronger revenue prospects in the financial technology space.
Mecure also attracted significant buy interest, gaining 9.92 percent as its stock climbed from N19.65 to N21.60. Likewise, Regency Assurance rose 10 percent, from N1.30 to N1.43, as investors extended their rotation into insurance counters. Deap Capital Management & Trust was another notable gainer, appreciating 9.52 percent to close at N1.84.
Ahead of the session, analysts at Lagos-based Vetiva Research had flagged two opposing forces likely to shape the day’s trading—profit-taking in the high-volume banking sector versus positive momentum from insurance and consumer goods stocks. “Given the considerable turnover, liquidity remains high, but sentiment is clearly mixed,” the analysts noted, adding that the market is likely to remain a “stock-picker’s environment” in the short term.
At the close of trade, the Nigerian Exchange Limited (NGX) All Share Index (ASI) rose from the previous day’s 139,394.75 points to 139,796.11 points, while market capitalisation increased from N88.199 trillion to N88.453 trillion.
Market activity remained strong, with 659.17 million shares worth N12.5 billion traded in 25,334 deals. The most actively traded stocks included FCMB, Universal Insurance, First Holdco, Regency Assurance, and Access Holdings.