NGX All-Share Index Rises 0.18%

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited chalked up 0.18 per cent on Tuesday, as the Central Bank of Nigeria (CBN) lowered the Monetary Policy Rate (MPR) to 23.00 per cent from 26.50 per cent after its Monetary Policy Committee (MPC) meeting.

The apex bank cut the interest rate yesterday after several months of easing inflationary pressure, with the National Bureau of Statistics (NBS) revealing last week that inflation in August 2026 further moderated to 15.39 per cent from 15.43 per cent in July 2026.

The stock market reacted positively to this development, as the market breadth remained positive after closing with 38 price gainers and 33 price losers, indicating bullish sentiment.

Sovereign Trust Insurance gained 9.95 per cent to trade at N2.21, CMFC appreciated by 9.82 per cent to N2.46, Neimeth improved by 8.90 per cent to N7.95, Cadbury Nigeria jumped by 8.29 per cent to N60.10, and Fortis Global Insurance rose by 7.73 per cent to N1.95.

Conversely, Multiverse shed 9.86 per cent to quote at N19.20, Haldane McCall lost 9.39 per cent to close at N2.99, Champion Breweries declined by 8.68 per cent to N10.00, Mutual Benefits slipped by 8.38 per cent to N3.50, and AXA Mansard dropped 6.67 per cent to sell for N11.20.

Business Post reports that the insurance sector was under selling pressure during the trading day, which led to a 1.94 per cent fall, but this did not affect the outcome of the market, as the loss was offset by others.

The banking index grew by 2.50 per cent, the industrial goods space soared by 1.20 per cent, the consumer goods counter increased by 0.07 per cent, and the energy segment chalked up 0.03 per cent.

Consequently, the All-Share Index (ASI) closed higher by 457.86 points to 250,614.66 from 250,156.80 points, and the market capitalisation expanded by N298 billion to N162.683 trillion from N162.385 trillion.

The most active stock for the day was Fidelity Bank, with a turnover of 165.4 million units valued at N3.3 billion. Zenith Bank transacted 105.7 million units for N13.7 billion, Chams exchanged 71.8 million units worth N240.6 million, Access Holdings sold 62.4 million units valued at N1.9 billion, and Sterling Holdings traded 55.6 million units worth N421.2 million.

In all, market participants bought and sold 837.3 million units for N48.6 billion in 52,126 deals, in contrast to the 574.2 million units worth N38.1 billion transacted in 68,655 deals on Monday, representing a shrink in the number of deals by 24.08 per cent, and a surge in the trading volume and value by 45.82 per cent and 27.56 per cent, respectively.