The Nigerian equity market sustained its bullish trend at the end of trading on Tuesday, adding N504bn to its market capitalisation, which now stands at N62tn.
The All-Share Index gained 0.82 per cent, to close at 102,186.03. This reflects a one-week gain of 2.13 per cent, a four-week gain of 4.66 per cent, and a year-to-date gain of 36.66 per cent.
MRS Oil Nigeria led the 37 gainers with a 10 per cent appreciation, closing at N217.80 per share. It was followed by Ikeja Hotel (+9.95 per cent), Multiverse Mining & Exploration (+9.9 per cent), and Skyway Aviation Handling Co. (+9.84 per cent).
On the losing side, Thomas Wyatt Nigeria topped the 21 losers with a 10 per cent drop to close at N1.71 per share. Caverton Offshore Support Group declined by 7.35 per cent, Wapic Insurance lost 5.03 per cent, and Haldane McCall fell by 5 per cent.
United Bank for Africa recorded the highest traded volume with 51.2m shares, followed by Universal Insurance (49.6m), C&I Leasing (37.2m), and Guaranty Trust Holding (17.4m).
Market indices also performed well, with the Premium Index rising by 2.01 per cent, the Insurance Index gaining 1.49 per cent, and the Pension Index adding 1 per cent. The Consumer Goods Index climbed 0.49 per cent, while the Banking Index advanced by 0.98 per cent.
Tuesday’s trading recorded a total of 397.53m shares exchanged in 8,357 deals, valued at N7.13bn. This marked a 21 per cent decline in volume, a 56 per cent drop in turnover, and a 33 per cent decrease in deals compared to Monday’s trading session.
On Monday, the Nigerian Exchange commenced the week on a positive note, with the equity market recording a N137bn gain to close at a market capitalisation of N61.5tn.
