The first trading session in the month of March ended on the green side as the Nigerian equities market closed higher for the second consecutive session.
Precisely, the All-share Index (ASI) of the Nigerian Exchange Limited (NGX) closed at 47,482.73 basis points having appreciated by 0.2 per cent.
Consequently, the Month-to-Date return stand at 0.2 per cent, while the Year-to-Date return increased to 11.2 per cent.
On Tuesday, the positive outing was largely determined by investors’ interest in Seplat and MTN Nigeria stocks as their respective stock value appreciated by 10.0 per cent and 1.0 per cent.
As measured by market breadth, market sentiment was negative as 15 tickers gained relative to 31 losers. Seplat and Royal Exchange recorded the most significant gains of the day after recording appreciations in their respective share value by 10.0 per cent and 9.5 per cent, while Cutix and Learn Africa topped the losers’ list having depreciated by 10 per cent each.
Sectoral performance was broadly negative as the Insurance, Banking, Industrial Goods and Consumer Goods indices declined by 1.3 per cent, 0.8 per cent, 0.3 per cent and 0.2 per cent respectively, while the Oil & Gas index was the sole gainer of the day with 5.4 per cent increase.
Activities for the day was however impressive as the total volume traded increased by 23.2 per cent to 370.54 million units, valued at N7.85 billion, and exchanged in 6,045 deals.
FCMB Group was the most traded stock by volume at 57.58 million units, while MTN Nigeria was the most traded stock by value at N4.56 billion.
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