By Seun Ibiyemi
The Nigerian equities market closed on a positive note on Tuesday, with investors gaining ₦884 billion amid renewed buying interest in key stocks.
Market capitalisation on the Nigerian Exchange Group rose by 0.67 per cent, increasing from ₦131.608 trillion to ₦132.492 trillion.
Similarly, the All-Share Index advanced by 1,372.52 points, or 0.67 per cent, to close at 205,831.38, up from 204,458.86 recorded in the previous session. The Year-to-Date return also improved to 32.27 per cent.
The bullish performance was largely driven by gains in stocks such as Stanbic IBTC Holdings Plc and Ecobank Transnational Incorporated, which both appreciated by 10 per cent to close at ₦161.70 and ₦50.60 per share, respectively.
Other notable gainers included Nigerian Exchange Limited, which rose by 9.97 per cent to ₦168.75, Cornerstone Insurance Plc, which gained 9.94 per cent to ₦5.64, and Mercury Securities Limited, which added 9.92 per cent to ₦67.60 per share.
Market breadth closed positive with 42 gainers against 21 losers.
On the losers’ chart, Fortis Global Insurance Plc declined by 8.20 per cent to ₦1.12, while McNichols Plc fell by 8.17 per cent to ₦6.52. Academy Press Plc also dropped by 6.96 per cent to ₦7.35 per share.
Further losses were recorded by International Energy Insurance Plc, which shed 6.88 per cent, and Guinea Insurance Plc, which declined by 5.83 per cent.
Analysis of trading activities showed a 21 per cent increase in volume, a slight 0.62 per cent dip in value, and a 25 per cent decline in the number of deals.
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A total of 569.3 million shares valued at ₦32.25 billion were exchanged in 45,777 transactions, compared to 470.01 million shares worth ₦32.45 billion traded in 60,793 deals on Monday.
In terms of volume, Access Holdings Plc led the activity chart with 67.53 million shares worth ₦1.75 billion, followed by Zenith Bank Plc with 39.74 million shares valued at ₦4.5 billion.
Other active stocks included VFD Group Plc, Guaranty Trust Holding Company Plc, and Lasaco Assurance Plc.
