Business

NGX index settle higher at 0.2% amid sustained positive sentiment

AT the close of Tuesday’s equities trading session at the Nigerian Exchange Limited (NGX), the domestic bourse index advanced by 0.16 percent to settle at 59,110.02 basis points amid sustained positive sentiment.

Gains in industrial giant, Dangorte Cement, alongside banking names Guaranty Trust Holding Company and Access Holdings, were the main drivers of the market’s overall performance having appreciated in share value by 0.14 percent, 0.78 percent and 0.34 percent, respectively.

As a result, the Month-to-Date (MtD) and Year-to-Date (YtD) gains increasing to +6.0 percent and +15.3 percent, respectively.

Market capitalisation settled at higher at N32.19 trillion as equities investors cumulatively gained N51.82 billion.

As measured by market breadth, market sentiment was positive, as 50 tickers gained relative to 19 losers. On the performance board, Sky Aviation and Academy Press topped the gainers’ list after their respective share prices appreciated by 10.0 percent, while C&I Leasing and Cornerstone Insurance recorded the most significant losses of the day as their share prices dipped by 10.0 percent and 9.8 percent, respectively.

Sectoral analysis indicated that the insurance sector was investors’ toast as evidenced by a 1.85 percent increase in its index. Additionally, the NGX Banking, NGX Consumer Goods, NGX Oil/Gas and NGX Industrial indexes rose by 0.02 percent, 0.06 percent, 1.41 percent and 0.10 percent, respectively.

Meanwhile, analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 19.61 percent. A total of 588.85 million shares valued at N8.96 billion were exchanged in 8,272 deals.

United Bank for Africa led the volume chart with 78.51 million units traded, while Guaranty Trust Holding Company led the value chart in deals worth N2.11 billion.

READ ALSO FROM NIGERIAN TRIBUNE