The Nigerian equities market resumed trading activities on Tuesday with positive sentiment after the government declared Monday June 12, 2023 a public holiday to mark Nigeria’s democracy day.
During the course of the day’s transactions, a total volume of 1.19 billion units of shares were traded, valued at N19.23 billion and exchanged in 10,269 deals where UNITED BANK FOR AFRICA PLC was the most traded stock by volume at 214.94 million units, while GURANTY TRUST HOLDING COMPANY PLC was the most traded stock by value at N6.24 billion.
At the close of trading on Tuesday, the benchmark index advanced by 4.0% as the market capitalization increased from N30,455 trillion to N31,670 trillion. Representing a 1,215 or 4.0% rise.
Similarly, the All-Share Index climbed from 55,930.97 basis points to 58,163.55 basis points by 2,232.58 basis points or 4.0%.
The bullish activities were broadly attributed to investors’ interest in the two major telecom companies AIRTEL AFRICA PLC (+7.8%) and MTN NIGERIA COMMUNICATIONS PLC (+3.6%).
As measured by market breadth, market sentiment was positive (5.1x), as 61 tickers gained relative to 13 losers.
ACCESS HOLDINGS PLC was the highest gainer today with the share increasing from N13.00 to N14.30k per share, gaining N1.30k or 10.00%.
Followed by GURANTY TRUST HOLDING COMPANY PLC with a rise from N28.00 per share to N30.80k per share, gaining N2.80k or 10.00%.
And LASACO ASSURANCE PLC. upped from N1.80k per share to N1.98k per share, gaining 0.18k or 10.00%.
On the flip side however, ELLAH LAKES PLC fell from N4.00 per share to N3.60k per share, losing 0.40k or 10.00%.
JOHN HOLT PLC was next with a decline from N1.40k per share to N1.26k per share, losing 0.14k or 10.00%. And THE INITIATES PLC dropped from 0.52k per share to 0.47k per share, losing 0.05k or 9.62%.
On sectoral performance, gains in the Banking (+8.8%), Insurance (+4.8%), Consumer Goods (+3.4%), Industrial Goods (+1.2%), and Oil & Gas (+0.2%) indices reflected the overall market performance.
Confidence Okwuchi
