Nigeria Equities Extend Gains, Tariff Risks Remain

Today’s market analysis on behalf of Daniel Wesonga, Senior Sales Manager at Pepperstone

Nigerian equities advanced on Tuesday, with the NGX All Share Index rising 0.48% to close at 104,744 points. Overall market sentiment was steady, with selective sectoral gains supporting the index. Commercial services led performance, climbing 5.49%, followed by consumer non-durables up 4.73%, and transportation up 1.62%. On the downside, electronic technology fell 2.30%, while health technology and energy minerals declined 0.52% and 0.15%, respectively. Among large caps, Dangote Cement, BUA Foods, and Aradel ended flat. The banking sector stood out with solid gains, as Guaranty Trust Holdings rose 1.69%, Zenith Bank added 2.27%, and Access Holdings increased 2.49%. On the trade front, challenges persist as US tariff risks continue to weigh on sentiment. However, initiatives such as strengthened bilateral relations with China may help ease near-term pressures. Overall, the market remains cautiously optimistic.