NGX Rises by N318bn as Nigerian Breweries and Japaul Gold Lead Gainers

The Nigerian Exchange Limited (NGX) opened the holiday-shortened trading week on a positive note with equities gaining N318 billion on Tuesday.

The market rally was driven by renewed investor interest in select mid-to-large cap stocks led by Nigerian Breweries and Japaul Gold.

The All-Share Index rose by 0.48 percent to close at 104739.61 points while market capitalisation advanced to N65.82 trillion from N65.50 trillion recorded in the previous session.

The uptick reflects broad-based buying across key sectors as investors repositioned ahead of macroeconomic updates and the upcoming Monetary Policy Committee meeting in May.

Nigerian Breweries gained N3.60 to close at N39.80 per share, representing a 9.94 percent increase. International Breweries followed with a 10 percent gain from N5.50 to N6.05.

Japaul Gold climbed 9.79 percent from N1.94 to N2.13 as demand for gold-linked assets increased amid rising market volatility.

Other notable gainers included The Initiates, which advanced by 9.89 percent to N5.00 and Cornerstone Insurance which rose by 9.65 percent to N2.84.

The movement in these stocks supported the day’s overall performance as investors shifted focus to undervalued and dividend-paying equities.

Trading activity also improved with a total of 353.28 million shares valued at N7.19 billion exchanged in 13734 deals.

Access Holdings, Fidelity Ban,k Cham,s Universal Insurance and Zenith Bank were among the most actively traded counters.

Despite the bullish session, analysts at Futureview Research anticipate a mixed performance throughout the week as cautious sentiment persists due to global trade tensions and domestic interest rate dynamics.

Investors are expected to monitor developments in the fixed-income market, particularly the upcoming Nigerian Treasury Bills auction which may influence equity flows.

In its latest outlook, United Capital Research stated that the equities market could face intermittent selloffs driven by profit-booking and high yields in the fixed-income space.

The firm added that retail investors remain cautious as they await clarity on policy direction from the Central Bank of Nigeria.

The rebound in Tuesday’s session signals improved investor appetite following recent selloffs. However, market analysts maintain that sustained recovery will depend on corporate earnings releases inflation data and monetary policy signals in the coming weeks.