The second trading session of the week on the Nigerian Exchange (NGX) Limited ended on a positive note with a further 0.46 per cent surge on Tuesday.
The strong appetite for Nigerian stocks helped the market capitalisation of Customs Street to grow by N468 billion to N102.275 trillion from N101.807 trillion and the All-Share Index (ASI) soared by 732.86 points to 159,951.08 points from the previous day’s 159,218.22 points.
Yesterday, 65 equities ended on the gainers’ chart and 21 equities finished on the losers’ table, indicating a positive market breadth index and bullish investor sentiment.
Meyer expanded by 10.00 per cent to N14.30, Jaiz Bank appreciated by 10.00 per cent to N5.28, ABC Transport increased by 9.98 per cent to N4.96, and Austin Laz gained 9.94 per cent to close at N5.64.
Conversely, Aluminium Extrusion lost 9.96 per cent to settle at N21.70, Learn Africa decreased by 9.16 per cent to N5.95, Oando shrank by 7.69 per cent to N40.80, UBA weakened by 6.22 per cent to N43.00, and Access Holdings crashed by 6.00 per cent to N23.50.
Business Post reports that Linkage Assurance led the activity chart after it transacted 51.6 million shares worth N93.1 million, Sterling Holdings traded 49.2 million stocks valued at N368.5 million, Access Holdings sold 48.7 million equities for N1.2 billion, Mutual Benefits exchanged 34.7 million shares valued at N142.0 million, and Regency Alliance transacted 26.4 million stocks worth N33.6 million.
At the close of trades, market participants bought and sold 759.0 million equities for N19.9 billion in 54,212 deals during the session versus the 695.7 million equities worth N18.6 billion in 56,632 deals on Monday.
This showed that the volume of transactions and the value of trades went up by 9.10 per cent, and 6.99 per cent, respectively, while the number of deals went down by 4.27 per cent.