Good news as Market cap increases by N636 billion as NGX gains 0.53% led by Airtel

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The NGX rose 0.53% on Tuesday, driven by strong buying in large and mid-cap stocksAirtel Africa, First Holdco and other blue-chips led gains, offsetting sector declinesLearn Africa, Okomu Oil, Unilever and NAHCO were among the major losers

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian stock market continued its positive momentum on Tuesday as the Nigerian Exchange (NGX) Limited gained 0.53%, driven by strong buying interest in selected large and mid-cap stocks.

Airtel Africa, First Holdco, and other major equities led the market’s advance, helping to offset losses recorded in some key sectors.

Airtel Africa, First Holdco drive Nigerian stock market rally Photo: AFP
Source: Getty Images

How did the market perform?

The NGX All-Share Index (ASI) rose by 990.55 points to close at 244,697.62 points from 243,707.07 points, while market capitalisation increased by N636 billion to N156.944