The Nigerian Exchange (NGX) closed positive on Tuesday.
The All-Share Index (ASI) increased by 0.20% 201.97 points to close at 98,892.58.
The market capitalization surged by N122.49 billion to close at N59.92 trillion from N59.80 trillion, amidst the buy-interests and sell-offs, bulls dominated the market.
Despite the gains in the ASI and market cap, trading activity declined, with a 9.88% drop in trading value and a 15.63% decrease in the number of deals. The value of trades fell to N24.84 billion from N27.57 billion, meanwhile, the trading volume rose to 591.01 million shares from 405.02 million shares.
SEPLAT led in trading value, while CHAMPION took the lead in trade volume. The market’s upward trend was fuelled by gains in the share prices of TRANSCOHOT, which surged 9.28%, followed by WAPIC (9.09%), UPDC (6.90%), UNIVINSURE (5.88%), and ABCTRANS (4.65%).
On the downside, TANTALIZER and JOHNHOLT topped the list of losers with a 9.84% decline each, alongside DANGSUGAR, down 8.82%, REGALINS, which fell 7.14%, and HONYFLOUR, down 5.81%.
The market experienced a 9.88% decline in trade values, representing a reduction of N2.72 billion. This brought the total value down to approximately N24.84 billion, compared to N27.57 billion in the previous session.
SEPLAT topped the list in terms of trade value, contributing N19.48 billion. It was followed by UBA with N1.19 billion, CHAMPION with N1.02 billion, OANDO with N546.59 million, and ZENITHBANK with N444.27 million.
Despite the drop in value, trading volume saw a significant rise of 45.92%, closing at 591.01 million shares. CHAMPION led in volume with 255.28 million shares, followed by JAPAULGOLD with 108.85 million shares. Other notable contributors included UBA with 44.99 million shares, FCMB with 19.15 million shares, and CILEASING with 16.91 million shares.