Investors gain N13.4bn as NGX inches up 2bps amid low turnover
BY TEMITOPE ADEBAYO
Investors on the Nigerian Exchange (NGX) recorded a modest gain of ₦13.4 billion on Tuesday, as the All-Share Index (ASI) edged up by 2 basis points to close at 107,798.99. Market capitalisation followed suit, rising to ₦67.18 trillion despite a sharp decline in trading activity.
Turnover weakened, with trading volume plunging 32.37 per cent to 245.52 million shares, while transaction value dropped 16.84 per cent to ₦8.41 billion. The number of executed deals also fell 26.58 per cent to 10,098, reflecting subdued investor participation.
Despite the sluggish market activity, sentiment remained positive, as the market breadth stood at 2.13, indicating that gainers outpaced losers. ACCESSCORP led in volume with 36.55 million shares traded, ticking up by 0.19 per cent, while ZENITHBANK posted the highest transaction value at ₦1.29 billion but remained unchanged.
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Meanwhile, the NASD Over-the-Counter (OTC) Securities Exchange saw a surge in trading activity, with volume spiking 99.32 per cent and trades rising 58.33 per cent. However, market capitalisation remained flat at ₦1.85 trillion, suggesting that price movements in key securities were largely stable despite heightened activity.
Despite the sharp rise in volume, total transaction value on the NASD dropped by 28.53 per cent, indicating a shift towards lower-priced securities or reduced high-value trades. SDAFRILAND emerged as the session’s top gainer with a 5.17 per cent increase, while SDFSTTRUSTMB posted the steepest loss, sliding 9.62 per cent.
With investors locking in ₦13.4 billion in gains, market sentiment remains cautiously optimistic amid persistent volatility and fluctuating turnover levels.
