Positive momentum was sustained on the floor of the Nigerian Exchange (NGX) Limited on Tuesday on the back of selling pressure by investors, keeping the bourse afloat by 1.24 per cent at the close of business.
It was observed that all the key sectors of Customs Street closed higher during the trading session, with the industrial goods index being the outperformer after it chalked up 3.36 per cent. The insurance counter appreciated by 1.18 per cent, the energy segment jumped 0.60 per cent, the consumer goods sector grew by 0.49 per cent, and the banking space improved by 0.07 per cent.
Consequently, the All-Share Index (ASI) went up by 2,905.05 points to 237,083.28 points from 234,178.23 points, and the market capitalisation added N1.865 trillion to close at N152.136 trillion compared with the previous day’s N150.271 trillion.
Zichis and Cadbury Nigeria gained 10.00 per cent each yesterday to sell for N26.62 and N61.60, respectively, NAHCO appreciated by 9.99 per cent to N147.00, DAAR Communications increased by 9.94 per cent to N1.99, and Caverton soared by 9.90 per cent to N5.55.
On the flip side, Critical Minerals Financing Corp (formerly Deap Capital) lost 10.00 per cent to trade at N3.33, Trans-Nationwide Express declined by 10.00 per cent to N2.70, Fortis Global Insurance also weakened by 10.00 per cent to N2.61, Ecobank crashed by 9.98 per cent to N85.70, and Mecure fell by 9.96 per cent to N85.45.
The activity level was down during the trading day after market participants traded 493.7 million equities valued at N28.0 billion in 49,969 deals compared with 538.6 million equities worth N38.7 billion completed in 64,065 deals on Monday, showing a decline in the trading volume, value, and number of deals by 8.34 per cent, 27.65 per cent, and 22.00 per cent, respectively.
Zenith Bank was the busiest stock yesterday, trading 94.3 million units worth N9.9 billion. Fidelity Bank transacted 32.6 million units valued at N587.4 million, Sterling Holdings exchanged 28.6 million units for N218.1 million, Linkage Assurance sold 18.9 million units worth N28.6 million, and Jaiz Bank traded 15.3 million units valued at N123.6 million.