A 0.42 per cent gain was recorded by the Nigerian Exchange (NGX) on Tuesday on the back of sustained bargain-hunting by investors.
This further raised the All-Share Index (ASI) by 645.19 points to 155,034.72 points from 154,389.53 points and increased the market capitalisation by N411 billion to N98.843 trillion from N98.432 trillion.
According to data, Guinea Insurance topped the advancers’ chart during the session by 10.00 per cent to settle at N1.32, as Honeywell Flour also grew by 10.00 per cent to N21.45, and Julius Berger expanding too by 10.00 per cent to N152.90, with Austin Laz chalking up 9.94 per cent to sell for N3.87.
On the other hands, Union Dicon lost 10.00 per cent to finish at N6.30, Living Trust Mortgage Bank shrank by 10.00 per cent to trade at N3.42, First Holdco slipped by 9.94 per cent to N44.40, Veritas Kapital depreciated by 7.47 per cent to N1.61, and Mutual Benefits slumped by 7.46 per cent to N3.10.
Investor sentiment remained bullish after the bourse closed the day with 46 appreciating equities and 24 depreciating equities, indicating a positive market breadth index.
There was a spike in the level of activity yesterday, with the trading volume soaring by 213.33 per cent to 4.7 billion shares from the 1.5 billion shares recorded a day earlier, and the trading value inflating by 9.58 per cent to N38.9 billion from N35.5 billion.
However, the number of deals decreased during the trading session by 27.28 per cent to 34,852 deals from the 47,892 deals achieved on Monday.
Cornerstone Insurance was responsible for the significant rise in the trading volume after selling 3.7 billion equities worth N18.5 million. FCMB traded 302.4 million stocks valued at N3.3 billion, Wema Bank exchanged 97.4 million shares for N1.9 billion, Access Holdings transacted 75.1 million stocks valued at N1.6 billion, and Chams sold 47.5 million equities worth N169.5 million.