As the market capitalisation increased to N63.3 trillion at the close of Tuesday’s trading session, investors on the Nigerian Exchange (NGX) reported a gain of N471.37 billion, with MTN leading the gainers table. The All-Share Index closed at 103,137.99, up 767.63 points, or 0.75 percent.
A total of 127 stocks were traded, with 29 gainers and 28 losers, indicating a range of market sentiments.
With a 10 percent increase in value, MTN Nigeria closed at N256.30 per share, leading the gainers. SCOA Nigeria, which closed at N2.99 after gaining 9.93 percent, came next. Omatek Ventures and Universal Insurance Company, on the other hand, increased by 9.88 percent and 8.7 percent, respectively.
Read also: NGX Group invests in Ethiopia’s new Securities Exchange, boosting Africa’s financial growth
Losers
Secure Electronic Technology saw the largest decline on the losers’ list, dropping 9.88 percent to settle at N0.73 per share. Abbey Mortgage Bank came next, finishing at N3.30 after losing 9.09 per cent.
Additionally, Sunu Assurances Nigeria and Deap Capital Management & Trust saw declines of 8.21 l3 and 7.08%, respectively.
As investors exchanged 439.64 million shares worth N8.48 billion in 13,087 transactions, market activity increased.
Compared to the previous session, this indicates a 24 percent percent increase in volume and a 7 percent gain in turnover, despite a 6 percent reduction in deals.
With 108 million shares traded, Lasaco Assurance was the largest volume, followed by Access Holdings with 44 million, United Bank for Africa with 27.9 million, and Zenith Bank with 26.7 million.
With the Premium Index rising 2.31 percent and the Insurance Index rising 1.03 percent, sectoral performance was favourable.
The Banking Index (+0.3 percent) and the Pension Index (+0.94 percent) were two other indices that saw increases. But so far this year, the Industrial Index has fallen 7.97 percent.
Read also: Ethiopian Securities Exchange launches with Wegagen Bank as first listed entity
NGX records N10 million boost in market cap
The Nigerian Stock Exchange saw a N10 billion boost in market capitalisation on Monday, starting the week on a high note.
The All Share Index closed at 102,370.62 points, up 0.02 percent from the previous trading day’s finish of 102,353.68 points.
Although there has been some good movement, the market is still down -0.48 percent on a month-to-date and year-to-date basis. However, the result for the current week represents a slight increase of 0.02 per cent.