Bulls persist at NGX as equities investors earn N26.3bn

At the Nigerian Exchange (NGX) on Tuesday, equities trading closed on a positive note as the All-Share Index edged up by 0.04 percent to 105,593.28 basis points.

This slight gain also lifted market capitalization by 0.04 percent to N66.21 trillion, adding N26.27 billion to investors’ portfolios.

Bullish sentiments persisted in the domestic bourse, driven by gains in Zenith Bank and Guaranty Trust Holding Company, which appreciated by 3.2 percent and 1.4 percent, respectively, contributing to a four-basis-point increase in the ASI.

Consequently, the Month-to-Date and Year-to-Date returns settled at -2.1 percent and +2.6 percent, respectively.

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Market breadth remained positive, with 29 stocks advancing against 21 decliners.
Leading the gainers were May & Baker International Pharmaceutical, Mutual Benefit Assurance, eTranzact, Abbey, and Consolidated Hallmark, while Eterna Oil, Royal Exchange, Veritas Capital, Wapic Insurance, and Oando topped the losers’ list.

Sectoral performance was mixed, with the Banking, Insurance, and Industrial sectors rising by 1.33 percent, 1.99 percent, and 0.01 percent, respectively, while the Consumer Goods, Oil & Gas, and Commodity sectors declined by 0.1 percent, 1.69 percent, and 0.59 percent.

Despite the positive close, trading activity was subdued, as the number of deals and trading volume fell by 6.49 percent and 20.70 percent, respectively. However, transaction value surged by 43.98 percent, bringing total turnover to 349.33 million shares worth N15.08 billion across 12,450 transactions.

Access Holdings was the most traded stock by volume at 36.60 million units, while Geregu Power led in value at N8.22 billion.