Equities trading at the Nigerian Exchange Limited (NGX) was bullish on Tuesday as the local bourse extended the previous day’s positive sentiments, driving the All-Share Index(ASI) 0.44 per cent higher to 65,488.67 basis points amid sustained buy interest.
Specifically, share prices of tickers such as BUA Foods, Nascon, Dangote Sugar, Guinness and Transnational Corporation rose by 7.91 per cent, 4.23 per cent, 3.89 per cent, 2.81 per cent, and 2.28 per cent respectively.
Consequently, the Month-to-Date and Year-to-Date returns increased to +1.8.per cent and +27.8.per cent, respectively.
Equities investors, therefore, earned N157.58 billion with the market capitalisation settling at N35.84 trillion by the end of trading sessions on Tuesday.
As measured by market breadth, market sentiment was negative, as 26 tickers lost relative to 16 gainers. On the performance board, Sunu Assurance and Chellaram recorded the highest losses of the day having lost 10.0 per cent, respectively, while Cornerstone Insurance and CWG topped the gainers’ list after their respective prices appreciated by 9.8 per cent and 9.7 per cent.
The general market bullish mood was reflected in the sectoral performance as three of the five sub-gauges closed in the green – the NGX Insurance, NGX Consumer Goods, and the NGX Oil/Gas indexes rose by 0.53 per cent, 3.75 per cent, and 0.01per cent respectively. However, the NGX Banking and the NGX Industrial indices fell by 0.90 per cent and 0.19 per cent, respectively.
Meanwhile, market activity improved, with total deals, volume, and value increasing by 7.30 per cent, 26.71 per cent, and 3.25 per cent, respectively, amounting to 5,895 trades, 293.46 million units, and N4.12 billion.
In terms of volume, MTN Nigeria Communication emerged as the most actively traded stock, with 2.88 million shares worth N791.46 million changing hands in 296 deals.
The total volume of trade increased by 26.7 per cent to 293.46 million units, valued at N4.12 billion, and exchanged in 5,895 deals.
The transnational corporation was the most traded stock by volume at 41.44 million units, while MTN Nigeria Communication was the most traded stock by value at N791.46 million.
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