Investors on the Nigerian Exchange recorded a gain of N471.37bn at the end of Tuesday’s trading session as the market capitalisation rose to N63.3tn. The All-Share Index advanced by 0.75 per cent, adding 767.63 points to close at 103,137.99.
Overall, 127 equities participated in trading, with 29 gainers and 28 losers, reflecting mixed sentiments in the market.
MTN Nigeria led the gainers, appreciating by 10 per cent to close at N256.30 per share. It was followed by SCOA Nigeria, which gained 9.93 per cent to close at N2.99. In comparison, Omatek Ventures and Universal Insurance Company rose by 9.88 per cent and 8.7 per cent, respectively.
On the losers’ chart, Secure Electronic Technology recorded the biggest drop, shedding 9.88 per cent to close at N0.73 per share. Abbey Mortgage Bank followed with a loss of 9.09 per cent, closing at N3.30. Sunu Assurances Nigeria and Deap Capital Management & Trust also dropped by 8.21 per cent and 7.08 per cent, respectively.
Market activity improved, as investors traded 439.64m shares valued at N8.48bn in 13,087 deals. This represents a 24 per cent increase in volume and a 7 per cent rise in turnover compared to the previous session, although deals declined by 6 per cent.
Lasaco Assurance led in volume with 108m shares traded, followed by Access Holdings with 44m, United Bank for Africa with 27.9m, and Zenith Bank with 26.7m shares.
Sectoral performance was positive, with the Premium Index gaining 2.31 per cent and the Insurance Index advancing by 1.03 per cent. Other indices that recorded gains included the Pension Index (+0.94 per cent) and the Banking Index (+0.3 per cent). However, the Industrial Index dropped by 7.97 per cent year-to-date.
The PUNCH reported that the Nigerian Stock Exchange opened the week on a positive note on Monday, with a market capitalisation increase of N10bn.
The All Share Index appreciated by 0.02 per cent, closing at 102,370.62 points, slightly up from 102,353.68 points recorded on the previous trading day. Despite the positive movement, the market is still negative for both the year-to-date and month-to-date, with a decrease of -0.48 per cent for each. The week-to-date figure, however, stands at a modest 0.02 per cent increase.
