Nigeria’s equities market sustained its positive traction on Tuesday amid buy-in and sell-offs in a trading session dominated by the bulls, thereby growing the benchmark All Share Index (ASI) by +0.36% to close at 52,419.33 index points compared to the 52,231.29 index points it closed at during previous day’s trading session.
Similarly, the market capitalization also appreciated by N102 billion to close at N28.542 trillion, a +0.36% gain compared to the N28.440 trillion recorded during Monday’s trading session.
The Nigerian Exchange Group (NGX), the equities market supervisory group, reported that NB Plc was the top performing equity as it gained +9.97% in value to close at N35.30 per share while CWG Plc was the least performing equity as it shed -9.63% of its share price to close at N1.69 per share..
The NGX data reflected that the volume of traded stocks totalled 576.85 million with a value of N6.79 billion in 6,143 deals.
The market indices further showed that the top five ASI gainers were NB gained +9.97% to close at N35.30 per share; FTNCOCOA gained +9.68% to close at N0.34 per share; SOVRENINS gained +9.52% to close at N0.46 per share; CORNERST gained +8.82% to close at N0.74 per share; and TRANSCORP gained +7.75% to close at N3.06 per share.
Conversely, the data reflected that the top ASI losers comprised CWG was down by -9.63% to close at N1.69 per share; COURTVILLE was down by -6.52% to close at N0.43 per share; ARDOVA was down by -6.06% to close at N24.80 per share; GLAXOSMITH was down by -4.41% to close at N6.50 per share; and ROYALEX was down by -4.00% to close at N0.48 per share.
The NGX listed the top three stocks based on volume traded as UBA – 94,307,647; TRANSCORP – 86,420,759; and ACCESSCORP – 62,424,703; while the top three by value were UBA – N795,904,749; ACCESSCORP – N635,673,654; and TRANSCORP – N261,679,901.
Analysts believe that the local bourse’s sustained growth is promising despite the surging inflation rate in the economy, which peaked at 22.22% in April as reported by the National Bureau of Statistics (NBS) yesterday.
