Sustaining previous day gain, the Nigerian equities opened the new month of September on positive.
The All-Share Index (ASI) of the Nigerian Stock Exchange (NSE), on Tuesday, advanced by 0.34 per cent to 25,413.95 basis points, largely owing to buying interests in Nigerian Breweries and some banking stocks.
Accordingly, Year-to-Date loss moderated to -5.3 per cent, just as the market’s worth increased to N13.26 trillion.
Market sentiment, as measured by the market breadth, was positive as 27 stocks gained relative to nine losers. On the gainers’ list, livestock led the chart having appreciated by ten per cent, closely followed by Eterna Oil, whose share value increased by 9.5 per cent on Tuesday.
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Conversely, the shares of WAPIC Insurance and Union Bank of Nigeria recorded the largest losses of the day, having depreciated by 5.7 per cent respectively.
The sectoral performance was broadly positive, following gains in the Banking (+1.1%), Consumer Goods (+0.9%), and Insurance (+0.8%) indices, and a loss in the Industrial Goods (-0.1%) index. The Oil & Gas index was however flat.
Following previous day trend, activity on the local bourse was on the rise as the total trade volume increased by 255.6 per cent to 1.07 billion units, valued at N2.10 billion and exchanged in 3,221 deals on Tuesday.
UAC Property was the most traded stock by volume and value at 947.74 million units and N663.67 million respectively.
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