Investors gain N469 billion as NGX sustains positive momentum
The equities market closed on a positive note on Tuesday, delivering a N469 billion gain to investors amid sustained buying interest across key stocks.
The gain was driven by sustained investor interest in stocks such as Meyer, Jaiz Bank, ABC Transport, Austinlaz, Multiverse Mining, and 60 other advancing stocks.
Specifically, the market capitalisation, which opened at N101.806 trillion, added 469 billion, or 0.46 per cent, to close at N102.275 trillion.
The All-Share Index also gained 0.46 per cent, or 732.86 points, to settle at 159,951.08, compared to 159,218.22 recorded on Monday.
This positive performance led the year-to-date return.
The market breadth also closed positive with 65 gainers and 21 losers.
Meyer and Jaiz Bank led the gainers’ chart by 10 per cent each, closing at N14.30 and N5.28 per share, respectively.
ABC Transport gained 9.98 per cent, settling at N4.96, while Austinlaz and Multiverse Mining grew by 9.94 per cent each, finishing at N5.64 and N17.70 per share, respectively.
On the other hand, Aluminium Extrusion Industries led the losers’ chart by 9.96 per cent, ending the session at N21.70; Learn Africa trailed by 9.16 per cent, closing at N5.95; and Oando dipped by 7.69 per cent, settling at N40.80 per share.
Similarly, United Bank for Africa shed 6.22 per cent, finishing at N43, while Access Corporation fell by 6 per cent, closing at N23.50 per share.
Analysis of market activity revealed a four per cent decline in market deals, with nine per cent growth in volume and a seven per cent increase in value.
No fewer than 758.9 million shares, valued at N19.8 billion, were traded across 54,212 transactions.
This is in contrast with 695.6 million shares worth N18.6 billion that were exchanged in 56,632 deals earlier on Monday.
Meanwhile, Linkage Assurance recorded the highest volume with 51.63 million shares traded, accounting for 6.80 per cent of total volume traded for the day.
Guaranty Trust Holding Company recorded the highest value at N2.04 billion, accounting for 10.24 per cent of the total value traded for the day.
(NAN)
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