The positive momentum seen at the Nigerian Exchange (NGX) Limited lately continued on Tuesday, as it further appreciated by 0.77 per cent at the close of business.
This was mainly driven by demand for energy, consumer goods and banking stocks by investors, according to data from Customs Street.
The energy space gained 3.40 per cent, the banking counter appreciated by 1.87 per cent, and the consumer goods index improved by 1.71 per cent. But the insurance segment lost 1.40 per cent, and the industrial goods sector shrank by 0.49 per cent.
The sell-offs in those two sectors did not impact the outcome of the bourse, as the All-Share Index (ASI) grew by 1,676.81 points to 252,158.23 points from 250,481.42 points, and the market capitalisation went up by N1.359 trillion to N161.613 trillion from N160.254 trillion.
Business Post reports that 41 equities ended on the gainers’ chart and 38 equities finished on the losers’ log, indicating a positive market breadth index and strong investor sentiment.
The quartet of Unilever Nigeria, University Press, Union Homes REIT, and Ikeja Hotel gained 10.00 per cent each to sell for N165.00, N4.40, N84.70, and N39.60, respectively, while Zichis rose by 9.98 per cent to N40.35.
Conversely, Custodian Investment lost 9.52 per cent to trade at N81.25, Honeywell Flour decreased by 8.11 per cent to N17.00, AIICO Insurance crashed by 7.74 per cent to N4.41, Fortis Global Insurance depreciated by 7.02 per cent to N1.06, and Secure Electronic Technology dipped by 5.38 per cent to 88 Kobo.
The busiest stock for yesterday was CWG with a turnover of 431.6 million units valued at N9.5 billion, UBA traded 403.1 million units for N16.6 billion, C&I Leasing transacted 152.1 million units worth N1.0 billion, Fidelity Bank sold 81.7 million units worth N1.7 billion, and Honeywell Flour exchanged 72.4 million units valued at N1.2 billion.
In all, investors bought and sold 2.0 billion units for N87.7 billion in 80,888 deals compared with the 1.5 billion units worth N68.5 billion traded in 94,834 deals on Monday, showing a surge in the trading volume and value by 33.33 per cent and 28.03 per cent, respectively, and a shortfall in the number of deals by 14.71 per cent.