A 0.12 per cent gain further lifted the Nigerian Exchange (NGX) Limited on Tuesday, with the All-Share Index (ASI) inching closer to the 145,000-point threshold.
The main performance indicator of Customs Street increased by 172.49 points during the trading day to settle at 144,995.26 points compared with the previous day’s 144,822.77 points and the market capitalisation chalked up N109 billion to quote at N92.031 trillion versus Monday’s N91.922 trillion.
The expansion recorded by the Nigerian bourse came despite a pocket of profit-taking by investors as the banking index lost 1.33 per cent, the energy industry declined by 0.87 per cent, and the commodity space shed 0.31 per cent.
These losses were offset by bargain-hunting in the other sectors, especially the insurance counter, which grew by 1.98 per cent, the industrial goods sector, which gained 0.69 per cent, and the consumer goods space, which appreciated by 0.26 per cent.
Cornerstone Insurance improved by 9.92 per cent to N6.65, Consolidated Hallmark rose by 9.52 per cent to N4.37, Chams jumped by 9.22 per cent to N4.62, VFD Group surged by 9.17 per cent to N11.90, and International Energy Insurance leapt by 8.82 per cent to N2.96.
On the flip side, LivingTrust Mortgage Bank slipped by 10.00 per cent to N5.94, Austin Laz declined by 9.74 per cent to N3.15, Juli depreciated by 9.60 per cent to N8.95, Livestock Feeds plunged by 7.50 per cent to N7.40, and Tantalizers shrank by 6.45 per cent to N2.32.
Business Post reports that 39 stocks ended on the gainers’ chart and 34 stocks finished on the losers’ table, representing a positive market breadth index and strong investor sentiment.
A total of 507.4 million equities valued at N24.3 billion exchanged hands in 30,681 deals on Tuesday compared with the 519.9 million equities worth N14.6 billion traded in 35,490 deals on Monday, showing a rise in the trading value by 66.44 per cent and a cut in the trading volume and number of deals by 2.40 per cent and 13.55 per cent, respectively.
Access Holdings led the activity chart after selling 45.9 million shares valued at N1.2 billion, Ellah Lakes traded 39.5 million equities worth N594.3 million, Chams transacted 30.8 million stocks for N140.2 million, Sovereign Trust Insurance exchanged 27.8 million shares worth N86.7 million, and Aradel Holdings sold 22.6 million equities valued at N13.2 billion.