Investors gain N216bn as banking stocks lift NGX by 0.28%
BY TEMITOPE ADEBAYO
The Nigerian Exchange (NGX) sustained its bullish momentum on Tuesday as renewed interest in tier-1 banking stocks drove the All-Share Index (ASI) up by 0.28 per cent to close at 121,989.67 points.
This modest gain translated to an increase of N216 billion in market capitalisation, which rose to N76.97 trillion from the previous day’s N76.75 trillion.
The year-to-date (YTD) return also improved to 18.52 per cent, reflecting investor confidence in key financial equities. Stocks such as ZENITHBANK (+2.97%), GTCO (+2.39%), and ACCESSCORP (+0.68%) led the rally, offsetting sell-offs in counters like FIRSTHOLDCO (-4.01%), HONYFLOUR (-1.13%), and ARADEL (-0.09%).
Despite the positive sentiment, overall market activity slowed. Trading volume dropped by 11.84 per cent to 408.56 million units, while transaction value declined by 19.88 per cent to N6.63 billion. The number of deals also slid by 1.89 per cent to 7,631.
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JAPAULGOLD (+9.78%) led the volume chart with 137.34 million shares exchanged, while ACCESSCORP emerged as the most traded by value at N1.85 billion. Market breadth remained strong at 2.81:1, with CHAMS (+10.00%) topping the gainers’ list, as LEGENDINT (-8.05%) posted the biggest loss.
Meanwhile, activity on the NASD OTC Securities Exchange also ended on a positive note, as the NASD Securities Index (NSI) appreciated by 0.45 per cent to close at 3,403.0 points, pushing market capitalisation to N1.99 trillion.
Volume on the unlisted securities market surged by 320.62 per cent to 3.86 million units, although transaction value declined by 28.38 per cent to N16.09 million. The number of executed deals rose by 9.09 per cent to 24, underscoring cautious but growing investor participation.
