NGX Records 12.97% Turnover Rise, Investors Gain N1.56 Trillion

The domestic bourse appreciated further on Tuesday, causing the market turnover on the Nigerian Exchange Ltd. (NGX) to rise by 12.97%.

Market activities revealed that 747.51 million shares valued at N16.28 billion were exchanged in 16,589 deals.

As a result, the All-Share Index rose by 2,848.85 points or 2.97% to close at 98,616.97, compared to 95,768.12 posted on Monday.

The Year-To-Date (YTD) return also rose to 31.89%.

Market capitalization gained N1.56 trillion or 2.97% to close at N53.967 trillion, compared with N52.408 trillion recorded on Monday.

Meanwhile, sustained buying interest in the equities of industrial heavyweights, namely Dangote Cement, BUA Cement, and Seplat, among others, drove the market’s strong performance.

On the activity chart, Transcorp led in volume with 77.71 million shares worth N1.29 billion, while Sterling Nigeria traded 72.31 million shares valued at 485.73 million.

United Bank of Nigeria (UBA) sold 52.99 million shares traded at N1.57 billion, while Access Holdings garnered 47.16 million shares valued at N1.35 billion. Also, Zenith Bank traded 32.02 million units valued at N1.34 billion.

On the advancers’ table, BUA Cement and Seplat led in percentage terms with 10% each, closing at N163.35 and N2795.10 per share, respectively. Dangote Cement followed with 9.99% to close at N651.80, while Eterna Plc gained 9.92% to close at N27.70. Meyer Plc grew by 9.88% to close at N3.56 per share.

Conversely, May & Baker Nigeria, Deap Capital Management & Trust, John Holt Plc, Mutual Benefits, and The Initiative Plc led with a loss of 10% each, closing at N7.38, 81k, N2.70, 72k, and N2.52 per share, respectively.

However, market breadth closed negative as 50 equities traded on the laggard’s table while 17 others traded on the gainers’. (NAN)