Equities trading at the Nigerian Exchange (NGX) extended positive momentum, on Tuesday, as the All-Share Index (ASI) advanced by 1.56 per cent to close at 108,361.10 basis points.
Market capitalization mirrored this performance, also rising by 1.56 per cent to N68.11 trillion, thereby adding approximately N1.04 trillion to investors’ wealth.
With the positive outing, on Tuesday, the Year-to-Date (YtD) of the ASI settled at 5.28 per cent.
Market breadth remained positive, with 42 gainers outpacing 25 decliners.
On the performance board, top gainers included Ecobank Transnational Incorporated, Nestle Nigeria, Northern Nigeria Flour Mills, Beta Glass and Austin Lazy having appreciated in share value by 10.00 per cent, 10.00 percent, 10.00 percent, 9.98 percent and 9.94 percent, respectively.
On the flip side, Guinea Insurance, Daar Communication VFD Group, Wapic Insurance and Regal Insurance led the laggards after their respective share prices dipped by 8.70 percent, 6.78 percent, 6.59 percent, 6.07 percent and 4.69 percent.
Sectoral performance was broadly positive. The Banking, Consumer Goods, Oil & Gas, Industrial Goods, and Commodities sectors recorded gains of 1.60 percent, 1.75 percent, 2.97 percent, 0.08 percent, and 1.54 percent, respectively, while the Insurance sector declined by 1.61 percent.
However, trading activity was subdued. The number of deals, volume, and value traded declined by 5.57 percent, 16.45 percent and 26.59 percent, respectively.
In total, N13.9 billion worth of transactions were executed across 17,575 deals, involving 475.46 million units.
Banking stocks were the toast of investors on Tuesday as the activities chart indicated that Access Holdings, followed by Guaranty Trust Holding Company, United Bank for Africa, Sterling Financial Holdings Company and Zenith Bank were the most traded stocks for the day.
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