Equities trading at the Nigerian Exchange Limited (NGX) continued its bullish momentum with the All-Share Index (ASI) rising by 0.33 per cent to close at 98,540.93 basis points.
On Tuesday, the Nigerian equities market traded with positive sentiments driven by buying interests in Oando, Aradel Holdings and Guaranty Trust Holding Company as these high-capitalised stocks appreciated by 7.9 per cent, 6.1 per cent and 3.2 per cent, respectively.
This gain led to a corresponding increase in market capitalisation, up by 0.33 per cent to N59.71 trillion, adding N197.4 billion to investors’ portfolios.
Consequently, the Month-to-Date and Year-to-Date return printed 0.0 per cent and +31.8 per cent, respectively.
However, as measured by market breadth, market sentiment was negative, as 27 tickers lost relative to 15 gainers.
On the performance board, notable gainers included Champion Breweries, Tantalizer, Oando, Aradel Holdings and Eterna; while Caverton Offshore Support Group, Triple Gee and Company, C&I Leasing, Jaiz Bank and Associated Bus Company were among the top losers.
Despite the overall positive market sentiment, sectoral performance was mixed. The banking and insurance sectors posted losses of 0.78 percent and 2.11 percent, respectively, while the consumer goods and oil/gas sectors recorded modest gains of 0.07 percent and 0.13 percent.
The industrial goods sector, however, remained flat at 0 percent.
Trading activity at the local bourse on Tuesday remained robust, with the number of deals and value increasing by 19.39 percent and 36.07 percent, respectively, although trading volume fell by 6.21 percent.
A total of 286.04 million units were exchanged across 9,650 deals, amounting to N26.82 billion in value.
Access Holdings led the trading volume with 45.9 million units valued at N928.5 million across 334 deals, while Aradel was the top stock traded by value.
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