The local bourse sustained its positive performance in the trading session on Tuesday as bargain hunting in a few consumer goods players, BUA Foods and Dangote Sugar – underpinned market performance as these stocks appreciated in share value by 2.8 per cent and 5.2 per cent.
Basically, at the Nigerian Exchange Limited (NGX), equities extended gains for the fourth consecutive session as the All-Share index gained 0.08 per cent to close at 68,334.68 basis points.
Accordingly, the Month-to-Date and Year-to-Date gains increased to +2.7.per cent and +33.3.per cent, respectively.
As bullish sentiments persisted at the local bourse on Tuesday, equities investors gained N30.40 billion as the market capitalisation settled at N37.40 trillion.
As measured by market breadth, market sentiment was mixed as an equal number of tickers 30 gained and lost.
On the performance board, Omatek and Multiverse topped the gainers’ list after their respective share prices appreciated by 10.0 per cent, while NSLTECH and Chellaram recorded the highest losses of the day having dipped in share value by 10.0 per cent and 9.8 per cent, respectively.
Performance across sub-indices was mixed, as the NGX Consumer Goods and the NGX Industrial indices rose by 1.98.per cent and 0.03.per cent, respectively, while the NGX Banking and NGX Insurance indexes declined by 0.60 per cent and 0.11 per cent, respectively. The NGX Oil/Gas remained unchanged.
However, activities at the local bourse on Tuesday was unimpressive as analysis showed that trade turnover settled lower relative to the previous session, with the value of transactions down by 21.70.per cent.
A total of 557.85 million shares valued at N10.21 billion were exchanged in 9,818 deals. United Bank for Africa led the volume chart with 63.32 million units traded while Guaranty Trust Holding Company led the value chart in deals worth N1.53 billion.
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