The Nigerian stock market has maintained its positive momentum on Tuesday, recording a 0.33% increase that translated to N197 billion added to investors’ portfolios.
The market capitalization, which opened at N59.510 trillion, climbed to N59.707 trillion by the end of trading.
The All-Share Index (ASI) rose by 326 points, closing at 98,540.93, compared to 98,215.13 recorded on Monday.
This upward movement has boosted the Year-To-Date (YTD) return to 31.79%, reflecting strong investor confidence.
Key equities were instrumental in driving the market’s growth, with notable gains from Guaranty Trust Holding Company (GTCO), Access Corporation, and Oando Plc. However, the market breadth closed in the negative, with 28 stocks declining against 15 that gained.
Caverton led the list of decliners, plummeting by 10% to close at N2.34 per share.
Conversely, Champion emerged as a leader among advancing stocks, finishing at N3.42 per share.
Market analysis indicated that trading activity was more robust compared to the previous session, with the value of transactions rising by 36.07%. A total of 286.04 million shares worth N26.82 billion were exchanged in 9,650 deals, a significant increase from the 304.97 million shares valued at N19.71 billion traded in 8,083 deals earlier.
Access Corporation led the volume of shares traded, with 45.95 million shares exchanged, while Seplat topped the value chart with transactions amounting to N1.18 billion.
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