The positive momentum seen at the Nigerian Exchange (NGX) Limited in the past few trading sessions persisted on Tuesday due to renewed investor confidence.
The domestic bourse closed higher by 0.30 per cent yesterday due to sustained buying pressure, with significant interest in mid and large-cap equities.
Apart from the energy industry, which declined by 0.22 per cent on Tuesday, every other sector ended in the green territory, with the insurance sector leading after chalking up 2.24 per cent.
In addition, the banking index appreciated by 0.95 per cent, the consumer goods space grew by 0.82 per cent, the commodity counter improved by 0.08 per cent, and the industrial goods sector jumped by 0.01 per cent.
As a result, the All-Share Index (ASI) went up by 358.60 points to 121,653.93 points from 121,295.33 points and the market capitalisation soared by N227 billion to N76.759 trillion from N76.532 trillion.
It was a busy period at Nigeria’s stock exchange on Tuesday as the level of activity increased, with the trading volume, value, and number of deals growing by 22.33 per cent, 35.42 per cent, and 3.03 per cent apiece.
Investors traded 1.0 billion equities valued at N19.5 billion in 24,770 deals during the session versus the 824.1 million equities sold for N14.4 billion in 24,042 deals in the previous trading day.
Access Holdings was the most active stock with 124.3 million units worth N2.7 billion, Japaul exchanged 123.1 million units for N340.9 million, Mutual Benefits transacted 55.6 million units valued at N77.8 million, Universal Insurance sold 54.6 million units worth N38.3 million, and Coronation Insurance traded 44.5 million units valued at N94.6 million.
The market breadth index remained positive yesterday after Customs Street closed with 57 appreciating shares and 21 depreciating shares, implying a strong investor sentiment.
Omatek, Champion Breweries, NGX Group, and C&I Leasing gained 10.00 per cent each to sell for N1.10, N14.96, N56.10, and N6.60, respectively, and Neimeth surged by 9.95 per cent to N9.50.
On the flip side, Deap Capital declined by 10.00 per cent to N1.17, eTranzact gave up 9.55 per cent to sell for N9.00, Northern Nigeria Flour Mills crashed by 9.17 per cent to N98.10, Sunu Assurances deflated by 6.22 per cent to N4.22, and VFD Group retreated by 6.16 per cent to N13.70.