The Nigerian equities market recorded a gain of N111bn on Tuesday, buoyed mainly by performances in the insurance sector.
The Nigerian Exchange All-Share Index inched up by 175.10 points, or 0.12 per cent, closing at 146,055.87. This marked a one-week gain of 0.87 per cent and a year-to-date increase of 41.9 per cent. The current market capitalisation of the NGX stands at N92.4tn.
A total of 77.2 million shares were traded in 31,146 deals, with a market turnover of N24.22bn. While trading volume declined by 40 per cent compared to the previous session, turnover improved by 25 per cent.
In aggregate, 128 listed equities participated in trading, with 49 gainers and 30 losers by the close.
Leading the gainers was AXA Mansard Insurance, which rose by 10 per cent to close at N17.71 per share. Others that recorded a 10 per cent appreciation include Champion Breweries at N17.38, Ellah Lakes at N16.06, The Initiates at N14.52, Sunu Assur at N6.05, and ABC Transport at N4.95.
On the losing side, Juli Plc led with a 10 per cent decline to N9.00 per share. This was followed by Unilever Nigeria, which dropped by 9.97 per cent to N71.30; Custodian and Allied Insurance, down 9.55 per cent to N37.90; Academy Press, which declined by 7.78 per cent to N8.30; May & Baker Nigeria, down 7.69 per cent to N18.00; and Wema Bank, which lost 6.05 per cent to close at N21.75.
In terms of sector indices, the Insurance Index surged 9.12 per cent, reflecting robust investor interest in the sector. Other indices posted mixed results, with the Top 30 Index up 0.03 per cent and the Industrial Index gaining 0.86 per cent.
Regarding market activity, Lasaco Assurance recorded the highest volume of 107 million shares traded, followed closely by Japaul Gold and Ventures with 107 million shares, Sterling Bank with 97.8 million shares, and Aiico Insurance with nearly 65 million shares.
Top value transactions were dominated by Guaranty Trust Holding Company with N2.62bn, Dangote Cement with N2.31bn, Zenith Bank with N2.02bn, and Access Bank with N1.68bn.
