Investors on the Nigerian Exchange experienced a significant boost on Tuesday, with a total market gain of N471.37bn, raising the market capitalization to N63.3tn. The All-Share Index climbed by 0.75 percent, closing at 103,137.99 points. Trading activity was mixed, with 127 stocks exchanging hands, resulting in 29 gainers and 28 losers. MTN Nigeria led the gainers, surging by 10 percent to close at N256.30 per share, followed by SCOA Nigeria, Omatek Ventures, and Universal Insurance Company, which also recorded notable gains.
Conversely, Secure Electronic Technology topped the losers’ chart with a 9.88 percent decline, closing at N0.73 per share. Abbey Mortgage Bank followed closely, shedding 9.09 percent, while Sunu Assurances Nigeria and Deap Capital Management & Trust also posted losses. Trading volume increased significantly, with 439.64 million shares worth N8.48bn exchanged in 13,087 deals, marking a 24 percent rise in volume and a 7 percent increase in turnover. However, the number of deals declined by 6 percent.
Sectoral performance remained largely positive, with the Premium Index and Insurance Index gaining 2.31 per cent and 1.03 per cent, respectively. The Pension and Banking indices also showed modest growth, while the Industrial Index recorded a year-to-date decline of 7.97 per cent. Meanwhile, the market had opened the week on a positive note, with a N10bn increase in market capitalisation on Monday. However, year-to-date and month-to-date figures remain negative at -0.48 per cent each, reflecting ongoing market volatility.
Source: PUNCH