Trading on the Nigerian equities market on Tuesday reversed the negative trend recorded on Monday as the NGX All Share Index (ASI) gained 0.65% closing at 106,574.98, with the attendant N426.38 billion gain by investors, thereby raising the total market capitalization to N66.49 trillion at the end of the day’s session.
The boom in the data value was primarily driven by renewed buying interest in select stocks, including TRANSCORP, which rose by 8.91%, ELLAHLAKES grew by 10.00% compared to HONYFLOUR and ETERNA surges by 9.93% and 9.93% respectively.
Data from the Nigerian Exchange Group (NGX) on the day’s trading activity based on sectorial performance showed that the Industrial Goods index emerged as the top performer, recording a 2.40% gain, followed by the Banking index and Insurance index with 0.44% and 0.19% gain respectively.
Conversely the Consumer Goods index led the losers’ chart following a 0.52% decline and even though, ETERNA and MRS recorded gains of 9.93% and 3.23% respectively, their gains were not enough to elevate the Oil and Gas index, which marginally dipped by 0.2% following decline of 0.99% in OANDO, the second most traded stock in value.
- Advertisement -
On the traded stocks chart, ACCESSCORP dominated the volume, accounting for 8.09% of the total traded volume, and following a 0.36% price appreciation it exchanged 38.72 million units. TRANSCORP followed closely behind with a volume of 35.23 million units.
According to the data on the previous trading session on the fixed-income market, rates remained stable across both for short and long-term tenors, while medium-term tenors experienced heightened volatility.
Overall, at the end of Tuesday’s trading, the market sentiment was positive with market breadth of 1.60X based on 40 gainers compared to 22 losers, while the Up/Down (UD) volume ratio rose by 2.23 up from yesterday’s 0.96 increase.
