Investors gain N405bn as NGX extends positive run
BY TEMITOPE ADEBAYO
The Nigerian equities market sustained its rebound on Tuesday as investors gained N405 billion, with the NGX All-Share Index advancing by 0.56 per cent to close at 114,659.11 points. Market capitalisation rose to N72.30 trillion, pushing the year-to-date return to 11.40 per cent.
The day’s performance was driven by renewed interest in key stocks, with OANDO gaining 6.32 per cent, FIDSON rising 9.91 per cent, and BERGER climbing 9.98 per cent. Their gains outweighed losses in heavyweights such as NESTLE (-5.69 per cent), VITAFOAM (-6.64 per cent), and INTBREW (-4.11 per cent).
Market activity, however, saw a decline in turnover. Total volume traded dropped by 27.81 per cent, while total transaction value fell by 24.83 per cent. The number of deals executed declined by 14.35 per cent. FCMB led the volume chart with 40.29 million shares exchanged, posting a 5.00 per cent gain, while SEPLAT topped the value chart with N1.62 billion worth of trades.
READ ALSO: MOWCA at 50: Steering West and Central Africa Toward a Unified Maritime Future — Dr. Paul Adalikwu
Despite the lower activity levels, overall market sentiment remained positive as market breadth closed at 1.11-to-1, with 27 gainers against 24 losers. ABCTRANS led the gainers’ chart with a 10.00 per cent rise, while ABBEYBDS topped the laggards’ list after shedding 7.50 per cent.
On the NASD OTC Securities Exchange, the NASD Securities Index dipped by 0.33 per cent to 3,337.2 points, while market capitalisation declined to N1.95 trillion. Nonetheless, trading activity improved sharply.
Volume surged by 1,232.60 per cent to 3,316.59 units, while total value traded rose 31.76 per cent to N12.92 million. The number of executed deals also increased by 46.67 per cent to 44 transactions.
