Nigerian investors recorded a gain of N253 billion on Tuesday, June 2, after the market rose by 0.36% at the close of trading, marking the second positive performance of the new month.

The strong performance of the market is due to investors' continued cherry-picking of value stocks ahead of the half-year (H1) portfolio rebalancing.

Data showed that the Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose by 401.24 points, or 0.36%, to close at 112,427.48 points, up from the previous day’s 112,026.24 points.

The market capitalisation also appreciated by N253 billion, climbing from N70.641 trillion to N70.894 trillion.

Details of stock market activities on Tuesday

Here is a snapshot of the winners, losers, and stocks that led market activities, as investors exchanged 622,635,197 shares valued at N16.123 billion in 17,044 deals.

Top gainers

Honeywell Flour Mills Plc gained N2.00, rising from N20.00 to N22.00 per share (+10.00%).

SFS Real Estate Investment Trust gained N20.60, moving from N206.00 to N226.60 per share (+10.00%).

SCOA Nigeria Plc gained N0.49, increasing from N4.90 to N5.39 per share (+10.00%)

International Marine and General Services Plc rose by N3.35, climbing from N33.65 to N37.00 per share (+9.96%).

International Energy Insurance Plc gained N0.16, rising from N1.63 to N1.79 per share (+9.82%).

Top losers

Conoil Plc declined by N29.80, falling from N298.10 to N268.30 per share (−10.00%).

Learn Africa Plc dropped N0.43, decreasing from N4.31 to N3.88 per share (−9.98%).

Transcorp Hotels Plc lost N14.70, moving from N147.50 to N132.80 per share (−9.97%).

Julius Berger Nigeria Plc declined by N13.30, dropping from N133.80 to N120.50 per share (−9.94%).

Chellarams Plc lost N1.05, decreasing from N10.58 to N9.53 per share (−9.92%).
Top active trades

Fidelity Bank Plc recorded a turnover of 108.17 million shares valued at N2.05 billion.

Legend Intercontinental Plc traded 60.95 million shares worth N344.36 million.
United Bank for Africa Plc exchanged 55.74 million shares valued at N1.93 billion.

Guaranty Trust Holding Company Plc recorded 41.23 million shares worth N2.80 billion.

Access Holdings Plc traded 34.51 million shares, amounting to N754.43 million.

Tony Elumelu makes big move, buys more UBA shares

Earlier, Legit.ng reported that the chairman of United Bank for Africa (UBA), Tony Elumelu, has purchased more than 45 million shares in the company.

The transaction was disclosed by the group's company secretary, Bili Odum, in a regulatory filing on the Nigerian Exchange Group (NGX) on Tuesday, May 27, 2025.

According to Odum, 45,034,044 shares were purchased on May 23, 2025, at N34.3 apiece, for a total transaction value of roughly N1.53 billion.