Transactions on the Nigerian Exchange (NGX) Limited further closed bullish on Tuesday, rallying by 1.02 per cent on the second trading session of the week.
Data from Customs Street showed that the All-Share Index (ASI) moved closer to the 120,000-point threshold yesterday after it gained 1,211.17 points to settle at 119,790.82 points compared with the previous day’s 118,579.65 points.
In the same vein, the market capitalisation of the Nigerian bourse increased by N764 billion yesterday to end at N75.576 trillion, in contrast to the N74.812 trillion it ended a day earlier.
Unlike the preceding session, a sector, energy, finished in red on Tuesday, shedding 1.51 per cent due to profit-taking.
However, the industrial goods space grew by 3.13 per cent, the consumer goods counter appreciated by 2.01 per cent, the banking index improved by 0.94 per cent, the commodity industry rose by 0.28 per cent, and the insurance sector chalked up 0.06 per cent.
Investor sentiment was strong yesterday after the NGX ended with 61 appreciating equities and 22 depreciating equities, representing a positive market breadth index.
Dangote Sugar, Okomu Oil, UPDC, and Beta Glass advanced by 10.00 per cent each to quote at N44.00, N748.00, N3.30, and N333.95, respectively, while Champion Breweries soared by 9.98 per cent to N9.92.
Conversely, DAAR Communications depleted by 7.81 per cent to 59 Kobo, Prestige Assurance went down by 5.56 per cent to N1.02, Industrial and Medical Gases shed 4.30 per cent to trade at N33.40, NPF Microfinance Bank depreciated by 4.25 per cent to N2.03, and Aradel Holdings lost 4.06 per cent to close at N515.00.
A total of 868.7 million stocks valued at N23.7 billion were traded in 22,207 deals during the session compared with the 653.7 million stocks worth N21.3 billion transacted in 22.206 deals on Monday, indicating an improvement in the trading volume, value, and number of deals by 32.89 per cent, 11.27 per cent, and 0.01 per cent, respectively.
Business Post reports that LivingTrust Mortgage Bank was the most active stocks with 112.3 million units valued at N415.7 million, Royal Exchange traded 103.6 million units worth N113.8 million, Fidelity Bank sold 83.9 million units for N1.6 billion, Access Holdings exchanged 55.6 million units valued at N1.3 billion, and Zenith Bank transacted 34.2 million units worth N1.8 billion.