Investors in the Nigerian Exchange Limited (NGX) experienced some relief as the market reversed a previous loss and gained N100.45 billion in market capitalisation. This positive shift followed a significant loss of N658.23 billion on Monday, driven largely by uncertainty in the global economy, including reactions to President Donald Trump’s trade tariffs. Despite the recovery, trading activity remained subdued with a slight increase in trading volume but a decline in the number of deals.
On Tuesday, the market capitalisation and the All Share Index rose by 0.15%, closing at N65.59 trillion and 104,376.73 points, respectively. However, the trading session saw a 9.35% decrease in the value of traded shares compared to the previous day, and the number of trades declined by 7.41%. The market breadth remained negative with 16 stocks advancing and 43 stocks losing value, reflecting a mixed market sentiment.
Sector performance was varied, with gains seen in the banking and oil & gas sectors, which rose by 1.89% and 0.04%, respectively. On the other hand, the insurance, consumer goods, and industrial goods sectors suffered losses. The commodity sector remained unchanged. Investors in banking stocks, including Access Corp, Guaranty Trust Holding Company, and Fidelity Bank, dominated the market trades.
Top gainers of the day included Secure Electronic Technology, Abbey Mortgage Bank, and Sterling Financial Holding Company, which saw gains of 8.89%, 8.35%, and 6.85%, respectively. Conversely, the biggest losers were UH Real Estate Investment Trust, NAHCO, and NEM Insurance, with their stock prices dropping by nearly 10% each.
Source: punch