Industrial, banking stocks lift NGX Index as investors gain N165.99bn

stock NGX


The Nigerian stock market displayed an outstanding performance at the close of Tuesdays’ trading, as the Exchange accounted for more advancing stocks (40), than declining stocks (16).

The local bourse All Share Index recorded an impressive uptick of 0.43 percent to close at 71,250.17 points, thereby reversing Monday’s loss of 0.66 percent closing at 70,946.83 percent.

The market recorded N166 billion worth of investors gain, even as the year-to-date gain of the ASI climbed to 39.02 while the market capitalization stood at N38.99 trillion.

The shares of NLSTECH, MULTIVERSE, SUNUASSUR, FBNH and THOMASWY were the major tickets for investors as their respective share prices recorded appreciable gains of 10.00 percent, 9.95 percent, 9.92 percent, 9.86 percent and 9.82 percent.

Performance across the sectors was bullish, with the Banking, Consumer Goods and Industrial Goods indexes recording gains of 1.45 percent, 0.08 percent and 1.94 percent.

However, despite the positive market movement, the Insurance sector emerged as the only laggard, with losses of 0.17 percent, while the Oil/Gas sector held steady from the previous session.

Trading activity remained robust as the total deals, volume and value increased by 9.06 percent, 20.93 percent and 56.53 percent to 7,016 deals, 433.57 million units and N11.11 billion, respectively.

UACN emerged as the most actively traded stock in terms of volume with 61.71 million units worth N947. 41 million across 78 trades, while NIDF was the most traded in terms of value amounting to N2.22 billion.