Equities trading at the Nigerian Exchange Limited (NGX) kicked off this week on a bullish note as the benchmark index gained 0.49 per cent to close at 51,606.49 basis points.
The market’s performance on Tuesday was primarily driven by demand in telco heavyweight MTN Nigeria alongside Zenith Bank, Lafarge Africa and Stanbic IBTC Holdings, as these companies share prices appreciated by 2.23 per cent, 0.46 per cent, 1.96 per cent and 3.93 per cent, respectively.
Accordingly, the Month-to-Date and Year-to-Date returns settled at -4.8 per cent and +0.7 per cent, respectively.
Equities investors, therefore, gained N146.54 billion as the market capitalisation settled at N28.10 trillion by the end of the day’s trading sessions.
As measured by market breadth, market sentiment was positive, as 33 tickers gained relative to nine losses. On the performance board, Japaul Gold and Honeywell Flour Mills topped the gainers’ list having appreciated in share value by 10.0 per cent and 9.9 per cent, respectively.
In comparison, Wapic Insurance and Nigeria Exchange Group recorded the highest losses of the day after their respective share prices dipped by 7.3 per cent and 4.9 per cent.
Performance across sub-indices was largely positive, as four of the five sector gauges gained. The NGX Banking, NGX Insurance, NGX Consumer Goods, and NGX Industrial indexes fell by 1.30 per cent, 0.07 per cent, 0.37 per cent, and 0.11 per cent, respectively.
Meanwhile, trading activity improved, with total deals, volume, and value increasing by 48.62 per cent, 247.90 per cent, and 75.08 per cent, respectively, to 6,404 trades, 2.09 billion units, and N8.85 billion.
In terms of volume, Transnational Corporation emerged as the most actively traded stock, with 1.66 billion shares worth N4.09 billion changing hands in 134 deals.
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