WATCH THE VIDEO HERE A 1.56 per cent rise was recorded by the Nigerian Exchange (NGX) Limited on the back of renewed confidence in the market by investors. The growth posted by Nigerian stocks during the session was significantly driven by demand for banking and energy equities. The energy space appreciated by 2.97 per cent, the consumer goods index gained 1.75 per cent, the banking counter grew by 1.60 per cent, the commodity sector improved by 1.54 per cent, and the industrial goods index expanded by 0.08 per cent, while the insurance industry went down by 1.61 per cent. At the close of business, the All-Share Index (ASI) chalked up 1,662.60 points to 108,361.10 points from the 106,698.50 points recorded a day earlier and the market capitalisation, which measures the total value of shares on the platform, increased by N1.045 trillion to N68.105 trillion from N67.060 trillion. The trio of Ecobank, Northern Nigeria Four Mills, and Nestle Nigeria topped the gainers’ chart yesterday after they rose by 10.00 per cent each to N25.85, N82.50, and N1,210.00 apiece, as Beta Glass jumped by 9.98 per cent to N132.80, and Austin Laz leapt by 9.94 per cent to N1.88. Conversely, Guinea Insurance led the losers’ group after it shed 8.70 per cent to 63 Kobo, DAAR Communications declined by 6.78 per cent to 55 Kobo, VFD Group lost 6.59 per cent to trade at N17.00, Coronation Insurance slumped by 6.07 per cent to N2.01, and Regency Alliance weakened by 4.69 per cent to 61 Kobo. During the session, investors transacted 475.5 million stocks for N13.9 billion in 17,575 deals versus the 569.0 million stocks valued at N18.9 billion exchanged in 18,612 deals on Monday, representing a decline in the trading volume, value, and number of deals by 16.43 per cent, 26.46 per cent, and 5.57 per cent, respectively. The busiest equity on Tuesday was Access Holdings with 103.9 million units worth N2.2 billion, GTCO exchanged 38.0 million units for N2.4 billion, UBA traded 30.7 million units valued at N1.1 billion, Sterling Holdings transacted 27.2 million units worth N147.2 million, and Zenith Bank sold 26.2 million units valued at N1.2 billion.
Total Value of Nigerian Stocks Now N68.105trn After 1.56% Rise
