Transactions on the Nigerian Exchange Limited closed on a positive note on Tuesday, with key indicators posting gains of 0.54 per cent. The All-Share Index (ASI) rose by 1,084.68 basis points to close at 202,559.57, up from 201,474.90 recorded in the previous session.
Similarly, market capitalisation appreciated by ₦696.31 billion, representing a 0.54 per cent increase, to settle at ₦130.03 trillion.
The market maintained its bullish momentum, driven by bargain hunting in medium and large-cap stocks such as FirstHoldCo, Wema Bank, United Bank for Africa, BUA Cement, and Guaranty Trust Holding Company, amid a favourable macroeconomic environment.
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Sectoral performance was largely supported by gains in the industrial goods and banking sectors, which advanced by 4.44 per cent and 4.30 per cent respectively for the second consecutive session.
Trading activity also improved significantly, with total volume and value rising by 84.75 per cent and 79.15 per cent. A total of 1.75 billion shares worth ₦88.10 billion were traded in 62,654 deals.
On volume, FCMB Group led with 29.54 per cent, followed by Wema Bank (12.21%), Zenith Bank (9.33%), Access Holdings (7.09%), and Guaranty Trust Holding Company (5.72%). In terms of value, Zenith Bank topped the chart with 20.56 per cent of total trades.
Market breadth closed positive, with 39 gainers against 33 losers. BUA Cement led the gainers’ chart with a 10.00 per cent increase, followed by Premier Paints (9.86%), Zenith Bank (7.91%), NAHCO (7.14%), and RT Briscoe (6.67%).
On the losers’ table, Presco Plc declined by 10.00 per cent, followed by Caverton Offshore Support Group (-8.70%), NSLTech (-7.69%), Guinea Insurance (-6.43%), International Breweries (-6.35%), and Eterna Plc (-5.85%).
However, overall sectoral performance was mixed, as the consumer goods, insurance, and oil and gas sectors recorded declines of 1.30 per cent, 0.41 per cent, and 0.13 per cent respectively.
Chiamaka Okechukwu/VON
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