At the close of Tuesday’s trading session, the Nigerian equities market remained resilient as the bulls persist, leaving the All Share Index (ASI) of the Nigerian Exchange Limited (NGX) with a 1.10 per cent gain to settle at 65,988.81 basis points, as investors hunted for bargains on blue-chip stocks.
Specifically, gains in MTN Nigeria, Zenith Bank and Geregu Power kept the market in the green having appreciated in share value by 5.52 per cent, 0.86 per cent and 3.60 per cent, respectively.
Consequently, the Month-to-Date and Year-to-Date returns increased to +8.2 per cent and +28.8 per cent, respectively.
The overall value of equities on the local bourse also appreciated by 1.1 per cent, leaving investors with N393.54 billion as the market capitalization settled at N35.93 trillion.
However, market breadth closed flat as FTN Cocoa Processor topped 21 others on the leader’s log having appreciated in share value by 10.0 per cent, while Conoil led 21 others on the laggard’s table after depreciating in share value by 10.0 per cent.
Sectorial performance was mixed as three of the five indices tracked closed in the red zone: the NGX Insurance, NGX Consumer Goods, and NGX Industrial indices moderated by six basis points, two basis points, and 14 basis points, respectively, and on the flip side, the NGX Banking and NGX Oil/Gas indices rose by 0.45 per cent and 3.25 per cent.
Analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 42.62 per cent. A total of 553.52 million shares valued at N7.42 billion were exchanged in 8,313 deals.
Japaul Gold led the volume chart with 72.49 million units traded while Guaranty Trust Holding Company led the value chart in deals worth N1.70 billion.
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