Trading activities on the Nigerian Exchange Limited (NGX) exhibited a positive trend on Tuesday, with investors gaining a substantial N130 billion by the close of the trading session. The All-Share Index (ASI) and market capitalization both appreciated by 0.33 per cent, closing at 71,907.26 basis points and N39.348 trillion, respectively. This marks another consecutive day of positive trading on the local bourse, with the year-to-date gain of the ASI reaching an impressive 40.30 per cent.
Despite the overall positive momentum, the volume of traded stocks and the number of deals experienced a decline of 14.86 per cent and 7.32 per cent, closing at 319.56 million units and 6,498 deals, respectively. However, the total traded value for the day saw a significant increase of 52.54 per cent, reaching N5.88 billion from Monday’s N3.85 billion.
The sectorial performance indicated a mixed trend, with three out of five stocks closing in the red zone. NGX Insurance, NGX Oil/Gas, and NGX Industrial Goods indexes declined by 0.49 per cent, 1.03 per cent, and 0.01 per cent, respectively. On the other hand, the Banking and Consumer Goods indices were positive, advancing by 0.67 per cent and 0.01 per cent, respectively.
At the end of the trading day, the exchange recorded more losers (25) than gainers (24). Notably, stocks that garnered significant investor interest included Infinity Trust Mortgage Bank, SCOA, Daar Communications, Royal Exchange, and Neimeth, with share prices experiencing appreciable gains of 9.79 per cent, 9.46 per cent, 8.82 per cent, 8.47 per cent, and 7.89 per cent, respectively.
The market was primarily driven by tier-1 banking stocks, including Zenith Bank, AccessCorp, and Guaranty Trust Holding Company Plc. FCMB’s stocks were also among the most traded during the session.
Julius Berger emerged as the most actively traded security in terms of both volume and value, with 42.54 million units worth N1.46 billion traded across 42 deals.
In summary, despite the moderation in trade volume and deals, the Nigerian Exchange Limited continues to exhibit positive momentum, providing investors with gains and contributing to the overall bullish performance of the local bourse.
