NGX All-Share Index Crosses 111,000-point Threshold, Market Cap at N70trn

This expansion was spurred by renewed appetite for Nigerian stocks, with buying interest across all the key sectors of Customs Street, according to data obtained by Business Post.

The insurance industry rose by 2.23 per cent, the industrial goods space expanded by 1.96 per cent, the banking sector jumped by 1.55 per cent, the consumer goods index increased by 1.17 per cent, the energy space gained 0.78 per cent, and the commodity counter grew by 0.47 per cent.

The ASI increased during the session by 1,721.30 points to 111,606.22 points from 109,884.92 points and the market capitalisation gained N1.085 trillion to quote at N70.377 trillion compared with the preceding session’s N69.292 trillion.

Yesterday, the bourse recorded the sale of 409.6 million equities valued at N9.9 billion 15,992 deals versus the 414.5 million equities worth N11.1 billion traded in 19,775 deals on Monday, representing an increase in the trading volume by 1.18 per cent and depreciation in the trading value and number of deals by 10.81 per cent and 19.13 per cent, respectively.

Custodian Investment sold 37.6 million shares valued at N752.1 million, Fidelity Bank traded 37.0 million stocks worth N676.3 million, Veritas Kapital exchanged 33.0 million equities for N34.1 million, Zenith Bank transacted 27.4 million stocks worth N1.3 billion, and Access Holdings traded 23.7 million equities valued at N519.6 million.

Investor sentiment was bullish on Tuesday after 35 shares gained weight and 20 shares lost, indicating a positive market breadth index.

Airtel Africa gained 10.00 per cent to sell for N2372.50, Omatek grew by 9.23 per cent to 71 Kobo, Cornerstone Insurance rose by 8.63 per cent to N3.40, NAHCO jumped by 8.39 per cent to N80.75, and University Press increased by 6.47 per cent to N5.10.

On the flip side, McNichols shed 9.80 per cent to N2.21, CWG depreciated by 9.50 per cent to N9.05, Champion Breweries declined by 7.38 per cent to N6.90, Red Star Express slumped by 4.62 per cent to N6.40, and Jaiz Bank tumbled by 4.46 per cent to N3.21.