The Nigerian Exchange (NGX) closed marginally higher on Tuesday, with the All Share Index inching up 0.01% to 149,459.11 points. Market capitalization also increased slightly to N95.28 trillion, as investors concentrated their activity on high-liquidity stocks, particularly Access Corp Plc.
Trading activity surged, with 1.026 billion shares exchanged across 23,701 deals, representing a significant 85.52% increase in volume and a 64.48% rise in value compared to the previous session. Access Corp dominated the session, with investors trading 385.83 million units valued at N7.72 billion, even though its share price held steady at N20.00.
Banking and consumer goods stocks drove the session’s momentum, with Sterling Financial Holdings, FCMB Group, and First HoldCo also seeing strong institutional interest. Out of 129 listed equities, 31 gained while 26 lost, reflecting a generally positive market breadth. Aluminium Extrusion Industries topped the gainers, jumping 10% to N9.35, while Guinness Nigeria rallied 9.98% to N263.40.
On the downside, profit-taking impacted several stocks, with Haldane McCall shedding 9.93% to close at N3.72 and LivingTrust Mortgage Bank falling 9.09% to N3.50. The NGX Top 30 and Main Board indices saw slight dips, while sector-specific indices like the Insurance and Consumer Goods indices posted modest gains, extending year-to-date positive performance.
Analysts note that liquidity remains robust, with investors rotating into fundamentally strong, high-volume stocks. Market sentiment is expected to stay cautiously optimistic in the short term, despite selective profit-taking and minor fluctuations across key indices.
source: nairametircs