The local bourse gained for the third straight session, on Tuesday, with indicators advancing by 0.3 per cent.
Specifically, the All-Share Index (ASI) of the Nigerian Stock Exchange (NSE) increased by 0.3 per cent to close at 24,841.94 basis points, just as equities investors gain N39.55 billion as the market capitalisation closed at N12.96 trillion as against previous day close of N12.92 trillion.
Basically, the bullish performance was driven by buying sentiments in stocks of Nigerian Breweries, Seplat and some Tier 1 bank stocks.
Therefore, the Month-to-Date gain increased to 0.6 per cent while Year-to-Date loss moderated to -7.5 per cent.
Market sentiment, as measured by the market breadth, was positive as 23 tickers gained relative to 10 losers. Mansard Insurance and UACN topped the gainers’ list having increased by 9.7 per cent and 8.7 per cent respectively, while CAP and Total were the top losers of the day with 9.9 per cent respective loss.
The total trade volume however declined by 17.2 per cent to 154.47 million units, valued at N1.46 billion and exchanged in 4,222 deals. Transnational Corporation was the most traded stock by volume at 13.54 million units while Nigerian Breweries was the most traded stock by value at N283.82 million.
All sector indices, save for the Industrial Goods index, closed in green. The Insurance index led the gainers with 2.3 per cent increase, followed by the Banking, Oil & Gas, and Consumer Goods indices, respectively.
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