The Equities market on the floor of the Nigerian Exchange Limited, NGX ended Tuesday’s trading activities with the benchmark index increasing significantly by 3.9%.
Market analysis according to Coronation Securities Limited and Cordros Securities all point to Investors sustained buying interests in industrial heavyweights namely, DANGOTE CEMENT PLC(+9.84%), BUA CEMENT PLC (+9.96%) alongside ZENITH BANK PLC (+2.92%).
“These buying interests drove the market’s strong performance, offsetting selloffs in UNITED CAPITAL PLC (-1.57%), AXAMANSARD INSURANCE PLC (-1.39%) and CUSTODIAN INVESTMENT PLC (-2.04%). As a result, the year-to-date (YTD) return rose to 17.65%.”
Consequently, the market capitalisation rose, entering well into the trillion naira mark by ₦1,822 trillion or 3.9% to close at ₦48,139 trillion as against Monday’s ₦46,317 trillion.
Similarly, the All-Share Index appreciated from 84,640.89 basis points to 87,971.10 basis points, rising 3,330.21 basis points or 3.9%.
Analysis of today’s market activities showed the value of transactions rose by 42.94% while the total volume traded advanced by 34.8% to 1.07 billion units of shares traded in 14,505 deals and valued at ₦15.77 billion.
JAIZ BANK PLC was the most traded stock by volume at 150.64 million units traded, while NASCON ALLIED INDUSTRIES PLC was the most traded stock by value at ₦2.57 billion.
As measured by market breadth, market sentiment was positive, with 77 advancing issues outnumbering the 10 declining ones.
BERGER PAINTS PLC (₦1.40k or 10.00%), DANGOTE SUGAR REFINERY PLC (₦7.40k or 10.00%) and FLOUR MILLS NIG. PLC (₦4.10k or 10.00%) led the gainers chart.
While ROYAL EXCHANGE PLC (-0.08k or -8.16%), MULTIVERSE MINING AND EXPLORATION PLC (₦ -1.20k or -6.59%) and ELLAH LAKES PLC. (-0.17k or -4.79%) topped the laggard’s table.
From a sectoral perspective, the Industrial Goods (+9.7%), Insurance (+5.8%), Banking (+4.4%), Consumer Goods (+3.0%) and Oil & Gas (+0.1%) indices recorded significant gains.
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