Bulls continued to gain dominance at the Nigeria Exchange Limited (NGX) as the equities market gained for the fifth consecutive session.
At the end of trading activities on Tuesday, the All-Share Index (ASI) gained 1.65 per cent to close at 65,669.29 basis points.
Specifically, gains in Dangote Cement, BUA Cement and Dangote Sugar kept the market in positive terrain as this high-cap company appreciated in share value by 9.27 per cent, 6.59 per cent and 0.55 per cent, respectively.
As a result, the ASI’s year-to-date (YTD) return increased to 28.13 per cent.
Equities investors, therefore, gained N580.23 billion as the market capitalisation settled higher at N35.76 trillion.
However, market breadth closed negative with declining issues outnumbering advancing ones. On the performance board, Champion Breweries topped 29 others on the laggard’s table having dipped in share value by 9.89 per cent, while Transcorp Hotel led 20 others on the leader’s log after its share price appreciated by 10.0 per cent.
Despite the positive market sentiment, three of the five indexes tracked closed in red: the NGX Banking, NGX Insurance, and NGX Consumer Goods indexes, which declined by 3.10.per cent, 2.41 per cent, and 0.43 per cent, respectively. However, the NGX Oil/Gas and the NGX Industrial indices rose by 0.73 per cent and 7.48.per cent, respectively.
Activities at the local bourse were unimpressive as analysis of market activities for the day under review showed that trade turnover settled lower relative to the previous session, with the value of transactions down by 57.28.per cent.
A total of 844.72 million shares valued at N9.41 billion were exchanged in 8,922 deals. Chams led the volume chart with 91.71 million units while Guaranty Trust Holding Company led the value chart in deals worth N1.09 billion.
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