NGX Index Rises 2.23% to 228,579.80 Points

Nigeria's stock market rebounded sharply on Tuesday, with the Nigerian Exchange (NGX) All-Share Index rising 2.23 percent to close at 228,579.80 points, adding N3.205 trillion to market capitalization, which reached N147.174 trillion.

The gains followed a one-day dip, lifting year-to-date returns to 46.89 percent. Trading activity intensified, as investors exchanged 907.96 million shares worth N68.23 billion across 72,886 deals, compared to 678.2 million shares valued at N44.14 billion in 82,838 deals the previous session. Access Corporation topped volume with 219.5 million shares traded for N5.78 billion, despite shedding nearly 8 percent of its value. Nestle led in turnover value at N15.27 billion.

Market breadth closed negative, with 39 stocks advancing against 42 decliners. Strong performers included Lafarge Africa (WAPCO), which gained 10 percent to N324.50 per share, Industrial and Medical Gases (IMG) up 10 percent to N39.60, and FTN Cocoa Processors also rising 10 percent to N5.50. Austin Laz climbed 9.71 percent to N3.73, while Presco advanced 9.52 percent to N2,300.

Declines were led by United Bank for Africa (UBA), down 10 percent to N44.55, TransNationwide Express...