Equities trading at the Nigerian Exchange Limited (NGX) was bullish, on Tuesday, recovering from the previous session’s loss, as the benchmark index rose by 0.08 percent to close at 71,066.55 basis points.
The positive performance was supported by bargain-hunting in Lafarge Africa as well as gains in Tier-1 Banking Names, Zenith Bank, Guaranty Trust Holding Company and United Bank for Africa.
Accordingly, the Month-to-Date and Year-to-Date returns increased to +2.6 percent and +38.7 percent, respectively.
As a result of the bullish trading outing, equities investors recorded total gains of N31.81 billion, as the market capitalization settled at N39.08 trillion by the end of activities at the local bourse.
As measured by market breadth, market sentiment was positive, as 45 tickers gained relative to eight losers.
On the performance board, Learn Africa and Mecure Industries recorded the highest gains of the day having appreciated in share value by 10 percent, respectively, while Champion Breweries and Oando topped the losers’ list after the share prices declined by 10.0 percent and 3.7 percent, respectively.
Reflective of the bullish market momentum, performance across the sub-sector gauges was positive with the NGX Banking, NGX Insurance and NGX Industrial Goods indexes advancing by 0.46 percent, 2.13 percent and 0.08 percent respectively.
However, despite the favorable market condition, the Consumer Goods sector recorded a loss of 0.04 percent, while the Oil/Gas sector remained quiet.
Meanwhile, market activity mellowed, as the total deals and value declined by 0.03 percent and 26.07 percent to 6,549 trades and N3.22 billion, respectively.
However, the total traded volume for the day surged by 37.09 percent to 491.40 million units.
At the conclusion of the trading session, Unity Bank emerged as the most actively traded security, with a total traded volume of 75.44 million units valued at N105.35 million, involving 375 trades, while VFD Group was the most traded in terms of value, amounting to N481.81 million.
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