The Nigerian equities market recorded a significant gain of N111 billion on Tuesday, driven largely by robust performances in the insurance sector, according to data from the Nigerian Exchange (NGX).
The NGX All-Share Index (ASI) rose by 175.10 points, representing a 0.12 percent increase, to close at 146,055.87 points. This reflects a one-week gain of 0.87 percent and a year-to-date growth of 41.9 percent, reinforcing the market’s strong upward momentum. The total market capitalization now stands at N92.4 trillion, highlighting sustained investor confidence in Nigerian equities.
A total of 77.2 million shares changed hands across 31,146 deals, yielding a turnover of N24.22 billion. While trading volume declined by 40 percent from the previous session, turnover improved by 25 percent, indicating higher-value transactions despite lower volume. Out of 128 listed equities that participated in trading, 49 gained in value, while 30 declined.
Insurance equities emerged as the major driver of market gains. The Insurance Index surged by an impressive 9.12 percent, reflecting heightened investor interest and renewed confidence in the sector. Leading the gainers was AXA Mansard Insurance, which posted a 10 percent increase to close at N17.71 per share. Other notable gainers included Sunu Assur (+10%, N6.05), Ellah Lakes (+10%, N16.06), The Initiates (+10%, N14.52), ABC Transport (+10%, N4.95), and Champion Breweries (+10%, N17.38).
The surge in insurance equities comes amid regulatory and capital reforms in the sector, signaling stronger financial health and improved profitability of insurance companies. Analysts note that sustained market interest in insurance stocks reflects their growing attractiveness as investors seek diversification beyond traditional banking and industrial equities.
While the insurance sector dominated gains, other sectoral indices posted mixed results. The Top 30 Index rose marginally by 0.03 percent, while the Industrial Index gained 0.86 percent.
In terms of trading volume, Lasaco Assurance led with 107 million shares, closely followed by Japaul Gold & Ventures with 107 million shares, Sterling Bank at 97.8 million, and Aiico Insurance at nearly 65 million shares. Top value transactions were dominated by Guaranty Trust Holding Company (N2.62 billion), Dangote Cement (N2.31 billion), Zenith Bank (N2.02 billion), and Access Bank (N1.68 billion).
Market analysts view Tuesday’s performance as an indicator of a gradual rotation into high-performing sectors such as insurance, which have shown resilience amid macroeconomic challenges. The current trend suggests that investors are increasingly seeking equities with strong fundamentals, transparent operations, and consistent dividend payouts.
Temitope Aina, a Metro correspondent covering business and financial markets, notes that “the insurance sector’s robust gains highlight a growing confidence among investors, particularly in companies that are compliant with regulatory reforms and demonstrating sustainable profitability.”
With the Nigerian equities market continuing to attract both local and foreign investors, experts expect that sectors demonstrating solid growth and financial stability, like insurance, will play a pivotal role in sustaining market capitalization growth and boosting overall investor sentiment in the months ahead.