The Nigerian stock market gained ₦88 billion as renewed buying interest in select equities lifted market capitalisation and the All-Share Index higher.
The Nigerian equities market closed on a positive note on Tuesday, recording an ₦88 billion gain as renewed buying interest in selected stocks boosted key performance indicators.
Market capitalisation increased by ₦88 billion, or 0.06 per cent, to close at ₦140.523 trillion, up from ₦140.435 trillion recorded on Monday.
Similarly, the All-Share Index advanced by 135.97 points, representing a 0.06 per cent rise, to settle at 218,249.81 compared with 218,113.84 in the previous session.
Analysts attributed the modest rally to increased demand for shares such as National Salt Company, Union Dicon Salt, WAPCO, Trans-Nationwide Express, and UAC of Nigeria.
Following the latest gain, the market’s Year-to-Date return improved to 40.25 per cent.
Despite the overall positive close, market breadth remained negative, with 44 decliners against 25 gainers, indicating mixed investor sentiment.
On the losers’ table, Legend Internet led after shedding 9.92 per cent to close at ₦5.63.
Abbey Mortgage Bank declined by 9.59 per cent to ₦6.60, while Stanbic IBTC fell by 8.96 per cent to ₦154.50.
Access Corporation lost 8.83 per cent to close at ₦29.95, while Veritas Kapital dropped 7.50 per cent to ₦1.85 per share.
On the gainers’ chart, National Salt Company topped the list with a 10 per cent increase to ₦171.60.
Union Dicon Salt rose by 9.92 per cent to ₦19.95, while WAPCO gained 9.64 per cent to close at ₦273 per share.
Trans-Nationwide Express appreciated by 8.27 per cent to ₦7.20, while UAC of Nigeria advanced 7.84 per cent to ₦110 per share.
Trading activity weakened at the close of business, with total volume declining by 14.38 per cent to 842.48 million shares valued at ₦44.86 billion in 61,617 deals.
Access Corporation recorded the highest traded volume with 110.81 million shares, accounting for 13.15 per cent of total turnover.
MTN Nigeria led the value chart with transactions worth ₦6.55 billion, representing 14.60 per cent of the total market value traded.
Visit GMTNewsng for more news stories.
