Positive sentiments dominates market trading on Tuesday as the domestic bourse switched onto a higher gear with a 1.2 per cent flight.
Basically, the All-Share Index of the Nigerian Exchange Limited (NGX) settled at 40,716.66 basis points at the end of the trading session on Tuesday, after appreciating by 1.18 per cent or 573.61 points.
Precisely, foreign investors interest in Airtel Africa following its share buy-back plan buoyed the impressive performance of the day, after Airtel Africa shares appreciated by 6.29 per cent or N45 to close trading at N715 per share.
Consequently, the Month-to-Date and Year-to-Date returns increased to +1.2 per cent and +1.1 per cent, respectively.
Equities investors at the local bourse, therefore, earned N246.79 billion as the market’s worth, having crossed the N21 trillion mark settled at N21.22 trillion.
As measured by market breadth, market sentiment was positive as 31 tickers gained relative to 17 losers.
On the performance chart, FBN Holdings and PharmDeko recorded the most significant gains, having appreciated by 9.8 per cent and 9.7 per cent respectively, while University Press Limited and Regal Insurance topped the losers’ list, after losing 9.6 per cent and 8.9 per cent from the value of their respective share.
Across sectors, the Banking and Oil & Gas indices posted gains, while the Insurance and Consumer Goods indices declined. The Industrial Goods index was flat.
It was a busy day for stockbrokers on Tuesday as there was a spike in activity level. Basically, the total volume of trades increased by 114.0 per cent to 432.99 million units, valued at N3.13 billion, and exchanged in 4,377 deals.
Universal Insurance was the most traded stock by volume at 105.11 million units, while Guaranty Trust Holding Company was the most traded stock by value at N721.39 million.
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