The Nigerian equities market extended its consecutive bullish streak for the fourth day on Tuesday, with market capitalisation gaining 0.54% to peak at N130.03 trillion and implying an estimated gain of N 696.20 billion by investors.
The boom in today’s performance was supported by a positive market breadth of 1.15x, with 39 gainers compared with 34 decliners, and a UD ratio of 3.82 and TRIN of 0.07 indicating strong bullish move.
Data from the Nigerian Exchange Group, the capital market supervising group, reflected that the Industrial Goods index top the chart in sectoral performance, improving by 4.44% and driven by gains in DANGCEM, WAPCO and BUACEMENT. The Banking Index followed advancing by 4.30% based on increase in ZENITHBANK and GTCO, with the two top banks accounting for 34.59% of total value traded in the sector at the close of today’s trading session.
Conversely, the Consumer Goods sector dipped 1.30% mainly due to losses in DANGSUGAR just as the Oil & Gas sector declined by 0.13%, reflecting profit taking in OANDO and ETERNA. The Insurance sector’s performance declined by 0.41%, due to declines in NEM and SOVRENINS stocks’ prices.
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The NGX data further reflected that trading activity today on the local bourse increased as the total volume traded rose by 84.75% to 1.75 billion units, and value traded increased by 79.18% to N88.07 billion despite the dipping of the total deal by 14.07% to 62,473 trades.
