Positive sentiments continued in the equities market of the Nigerian Exchange Limited (NGX) on Tuesday as investors’ renewed interest in MTN Nigeria Communications (MTNN) Plc and 23 others triggered an N130 billion increase in overall market performance.
The All-Share Index rose by 237.35 basis points or 0.33 percent, to close at 71,907.26 basis points. Similarly, the overall market capitalisation gained N130 billion to close at N39.349 trillion.
The equities market Month-to-Date and Year-to-Date returns increased to +0.8 percent and +40.3 percent, respectively.
On sectors, the NGX Oil & Gas index dropped by one percent and the NGX Insurance index depreciated by 0.5 percent, while the NGX Consumer Goods and Industrial Goods indices closed flat. The NGX Banking index added 0.7 percent, the sole gainer of the day.
The market’s positive performance was driven by price appreciation in large and medium-capitalised stocks which are; MTNN, Transcorp Hotels, United Bank for Africa (UBA), Guaranty Trust Holding Company (GTCO), and Access Holdings.
However, the market breadth closed slightly negative, as 24 stocks gained relative to 25 losers. Infinity Trust Mortgage Bank recorded the highest price gain of 9.79 percent to close at N2.13, per share. SCOA Nigeria followed with a gain of 9.46 percent to close at N1.62, while DAAR Communications rose by 8.82 percent to close at 37 kobo, per share.
Royal Exchange appreciated by 8.47 percent to close at 64 kobo, while Neimeth International Pharmaceuticals rose by 7.89 percent to close at N2.05, per share. On the other hand, Guinea Insurance led the losers’ chart by 10 percent to close at 27 kobo, per share. Conoil followed with a decline of 9.83 percent to close at N78.00, while Juli declined by 9.72 percent to close at 65 kobo, per share.
Omatek Ventures shed 8.75 percent to close at 73 kobo, while Thomas Wyatt Nigeria lost 8.13 percent to close at N3.05, per share.
The total volume of trade decreased by 14.86 percent to 319.557 million units, valued at N5.878 billion, and exchanged in 6,498 deals. Transactions in shares of Julius Berger topped the activity chart with 42.539 million shares valued at N1.463 billion. Zenith Bank followed with 22.992 million shares worth N811.975 million, while FCMB Group traded 22.861 million shares valued at N155.131 million.
GTCO traded 21.588 million shares valued at N849.272 million, while Access Holdings transacted 18.802 million shares worth N380.133 million.
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