The Nigerian domestic equities market ended bullish on Tuesday sustaining the gains of the previous day with more profit-taking activities on of medium and blue chip stocks.
Key market indices at the Nigerian Exchange Group Limited, NGX remained on a positive trajectory at the close of the second trading session of the week.
The market capitalisation of listed equities increased by additional N393 billion to close at N35.932 trillion higher than the N35.539 trillion of the previous day.
The market maintained its positive sentiment even as the Monetary Policy Committee of the Central Bank of Nigeria voted to increase the benchmark interest rate by 25 basis points to 18.75 per cent from 18.5 percent.
Similarly, the All-Share Index at the Exchange appreciated further by 720.53 basis points representing a 1.11% increase to close at 65,988.81 points compared to Monday’s 65,268.28 points.
The day’s trading session closed with 32 gainers and 30 losers.
FTN Cocoa Processors and IKEJA Hotel led the gainers chart with a 10% profit on their respective prices closed at N2.42k and N2.97k.
SEPLAT followed with a 9.99% gain on its share price to close at N1,539.70k while SKYAVN had a 9.83% profit on its share price to close at N19.55k.
On the other hand, CONOIL and LEARNAFRCA led the decliners table with a 10% loss on their respective share prices to close at N101.25k and N4.10k.
John Holt followed with a 9.96% loss on its share price to close at N2.44k; then MULTIVERSE shares dropped by 9.88% to close at N3.01k
The market sentiment when measured by market breadth however, ended negative in terms of deals, volume of trade and value by 14.09%, 33.43% and 42.62% to 8,313, 553.52 and N7.42 billion respectively.
Confidence Okwuchi
