Performance of equities trading on the floor of the Nigerian Exchange Limited, NGX continued on a bullish trajectory on Tuesday with the benchmark index increasing by 0.48%.
While the market capitalisation grew by ₦138bn or 0.48% from Monday’s ₦28,515trn to ₦28,653trn, the All-Share Index upped by 252.06 or 0.48% to close at 52,621.19 basis points from Monday’s 52,369.13 basis points.
Sustained buying interest in ZENITH BANK PLC (+2.08%) as well as other banking names FBN HOLDINGS PLC (+7.54%), STANBIC IBTC HOLDINGS PLC (+5.33%), and GUARANTY TRUST HOLDING COMPANY PLC (+2.03%), offset losses in NIGERIAN BREWERIES PLC (-0.26%), ECOBANK TRANSNATIONAL INCORPORATED (-0.40%) and UNITED CAPITAL PLC (-1.88%).
The total volume traded stood at 350.97 million units of shares valued at ₦5.17 billion, and exchanged in 5,946 deals where UNITED BANK FOR AFRICA PLC was the most traded stock by volume at 62.45 million units of shares, and ZENITH BANK PLC was the most traded stock by value at ₦1.58 billion.
As measured by market breadth, market sentiment was positive, with 33 stocks gaining relative to 15 losers.
TRANSNATIONAL CORPORATION PLC led the gainers rising by 0.26k or 9.85% from a previous selling price of ₦2.64k per share on Monday to ₦2.90k per share on Tuesday. TRIPPLE GEE AND COMPANY PLC followed with a rise from ₦2.95k per share ₦3.24k per share by 0.29k or 9.83%. And UNILEVER NIGERIA PLC. rose from ₦13.40k per share to ₦14.70k per share by ₦1.30k or 9.70%.
On the flip side, CHELLARAMS PLC fell from ₦1.81k per share to ₦1.63k per share, losing 0.18k or 9.94%, thereby making it the biggest loser for the day. SUNU ASSURANCES NIGERIA PLC trailed with a fall from 0.53k per share to 0.48k per share, losing 0.05k or 9.43%. And C & I LEASING PLC declined from ₦3.51k per share to ₦3.20k per share, losing 0.31k or 8.83%.
Performance across sectors was mixed, as the Banking (+1.6%) and Consumer Goods (+0.4%) indices posted gains, while the Industrial Goods, Insurance, and Oil & Gas indices were unchanged.
Confidence Okwuchi
