For the first time in seven straight trading sessions, the Nigerian Exchange (NGX) Limited recorded its first closure in green territory.
The local bourse ricocheted by 0.10 per cent on Tuesday after the Central Bank of Nigeria (CBN) retained the Monetary Policy Rate (MPR) at 27 per cent.
Also, Business Post observed that investors had keen interest in some banking equities, which helped to lift Customs Street at the close of business despite profit-taking in other key sectors of the market.
The banking index was up by 0.38 per cent, and the consumer goods counter improved by a marginal 0.01 per cent, while the insurance space lost 0.84 per cent and the energy industry weakened by 0.17 per cent, with the commodity and the industrial goods sectors closing flat.
When the stock market closed for the day, the All-Share Index (ASI) went up by 148.52 points to 143,763.13 points from 143,614.61 points and the market capitalisation grew by N95 billion to N91.441 trillion from N91.346 trillion.
The market breadth index was positive during the second trading day of the week after finishing with 26 price gainers and 20 price losers, indicating strong investor sentiment.
NCR Nigeria gained 9.98 per cent to settle at N45.20, Ikeja Hotel appreciated by 9.86 per cent to N22.85, Prestige Assurance improved by 9.56 per cent to N1.49, Eunisell rose by 9.49 per cent to N86.50, and Sterling Holdings soared by 8.96 per cent to N7.30.
However, Union Dicon slipped by 10.00 per cent to N6.30, Caverton also crashed by 10.00 per cent to N4.95, Sunu Assurance tumbled by 4.78 per cent to N4.38, Lasaco Assurance declined by 4.58 per cent to N2.50, and AXA Mansard lost 4.23 per cent to close at N12.45.
Despite the growth achieved by the NGX yesterday, the level of activity waned as traders transacted 556.2 million stocks for N18.7 billion in 19,500 deals versus the 694.8 million stocks valued at N28.7 billion traded in 24,041 deals a day earlier, implying a shortfall in the trading volume, value, and number of deals by 19.95 per cent, 34.84 per cent and 18.89 per cent apiece.
First Holdco was the most active with 93.7 million shares sold for N2.9 billion, Access Holdings traded 81.8 million stocks for N1.7 billion, Fidelity Bank exchanged 41.8 million equities worth N796.4 million, FCMB transacted 38.0 million shares valued at N386.8 million, and UBA traded 32.0 million stocks worth N1.2 billion.