By Temitope Adebayo
The equities segment of the Nigerian Exchange (NGX) on Tuesday sustained its latest upbeat mode, gaining N52.54 billion, as investors show interest in cement, industrial, and insurance stocks.
Trading data shows that the Nigerian Exchange All-Share Index (ASI) advanced by 0.2 per cent to 48,366.69 points, pushing the year-to-date return to 13.23 per cent, while the stock market capitalization surged by 0.20 per cent to close at N26,344.03 trillion from N26,291.49 trillion reported yesterday.
The latest trend in the local bourse has raised optimism among value hunters. Extending Monday’s gain, BUA share price appreciated by 2.5 per cent again.
Meanwhile, there was quietness in Dangote Cement but WAPCO filled the gap as its share price also popped by 0.92 per cent. HONEYFLOUR rose by 6.64 per cent Tuesday as investors take interest in the consumer goods sector. CHAMPION gained 7.14 per cent, according to market data. NASCON advanced by 3.98 per cent.
In the Insurance segment, LASACO jumped up by 4.71 per cent as the stock become popular among investors who also keep eye on AIICO with a 1.89 per cent gain.
Ticker: ETI spiked by 4.98 per cent today, while JAIZBANK increased by 2.30 per cent, and UBA was priced upward by 0.69 per cent. On the downside, the loss recorded in OANDO (-2.50%) was a dragged Oil and Gas Index.
WEMABA topped the loser chart with 6.1 per cent price depreciation and FTNCOCOA lost 3.3 per cent as investors reposition their portfolios towards growth, value companies with healthy fundamentals.
Data show that the total volume traded declined by 71.4 per cent to 184.66 million units, valued at NGN3.57 billion, and exchanged in 3,189 deals.
FBNH was the most traded stock in terms of volume, accounting for 35.80 per cent of the total volume of trades, followed by TRANSCORP (19.83%), GEREGU (9.46%), ACCESSCORP (3.98%), and RTBRISCOE (3.05%) to complete the top 5 on the volume chart.
READ ALSO: Aero boss, Sanusi makes case for formidable MRO
Meanwhile, GEREGU was also the most traded stock in value terms, with 49.11 per cent of the total value of trades on the exchange Again, FBNH led as the most traded stock by volume at 66.11 million units, while GEREGU was the most traded stock by value at NGN1.75 million.
Furthermore, the market sector performance closed positively, Nigerian Exchange trading result showed that four out of the five major market sectors were up.
The performing indices were led by the Industrial sector (+1.21%), followed by the Insurance sector (+0.17%), the Consumer goods sector (+0.14), and the Banking sector (+0.03%). The Oil & Gas sector was down by -0.38 per cent.
Leave a Comment
You must be logged in to post a comment.