The Nigerian Exchange (NGX) bounced back on Tuesday, reversing the losses recorded in the previous session as renewed investor interest lifted key stocks. Market capitalisation rose by N93.48bn to close at N106.44tn, up from N106.34tn on Monday, signaling cautious optimism among market participants.
The All-Share Index also posted a modest gain, advancing by 144.33 points or 0.09 per cent to settle at 166,256.83 points. This improvement from the prior close of 166,112.50 points reflected selective buying in equities, as investors began to reposition their portfolios after Monday’s downturn.
Trading activity showed notable improvement in volume and value, despite a decline in deal count. A total of 795.46 million shares worth N19.98bn were traded in 45,390 deals, representing a 26 per cent increase in volume and a 35 per cent jump in turnover, although the number of deals fell by 22 per cent compared to the previous trading day.
Market breadth closed positive, with 39 stocks recording gains against 25 losers out of the 130 equities that traded. Red Star Express led the gainers’ table, rising by 10 per cent to N15.95 per share, followed by Deap Capital Management & Trust, NPF Microfinance Bank, and NCR Nigeria, which all posted strong price appreciation. On the flip side, Aluminium Extrusion Industries, Jaiz Bank, FTN Cocoa Processors, and UPDC topped the losers’ chart after shedding significant value.
In terms of activity, Tantalizers recorded the highest trading volume, while GTCO led transactions by value, underscoring sustained interest in banking and blue-chip stocks. Zenith Bank, Aradel Holdings, MTN Nigeria, and Access Holdings also featured prominently as investors cautiously returned to the market. The rebound followed Monday’s bearish close, when the NGX shed N10.9bn in market value, highlighting the fragile but improving sentiment in the equities market.
source: punch