NGX Investors Gain N837 Billion in Tuesday Trading Session

Investors in the NGX sustained a positive gain of N837 billion following investors' renewed interest in MTN Nigeria Communications Plc and 34 other companies. 

The Nigerian Exchange Limited All-Share Index (NGX ASI) gained 1,479.60 basis points, or 1.45%, to close at 103,524.44 basis points. Market capitalisation rose by N837 billion to close at N58.533 trillion.

On the other hand, the NGX ASI month-to-date and year-to-date returns rose to +3.5% and +38.5%, respectively.

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The NGX Banking index increased by 5.4%, the NGX Insurance index rose by 1.2%, and the NGX Oil & Gas index appreciated by 0.1%. Meanwhile, the NGX Consumer Goods index dropped by 0.5%. The NGX Industrial Goods index remained unchanged.

As measured by market breadth, market sentiment was positive, as 35 stocks gained relative to 14 losers. 

Top Gainers: UBA led the chart with a 10% gain to close at N25.30 per share. MTNN followed with a gain of 9.98% to close at N243.50, while Julius Berger rose by 9.71% to close at N61.00 per share. Access Holdings followed with 9.51% to close at N22.45, while Veritas Kapital Assurance added 9.38% to close at 70 kobo per share. 

Top Losers: Tantalizer led the chart with 7.89% to close at 35 kobo per share. It was followed by NASCON Allied Industries, which declined 6.77% to close at N53.70. Morison Industries shed 6.62% to close at N1.41 per share. C&I Leasing lost 6.45% to close at N3.48, while Cutix declined 6.30% to close at N2.53 per share.

The total volume traded increased by 29.50% to 565.788 million units, valued at N14.234 billion, and exchanged in 11,519 deals. Transactions in the shares of Transnational Corporation (Transcorp) led the activity with 170.718 million shares worth N3.135 billion. Access Holdings followed with 48.572 million shares valued at N1.059 billion, while Guaranty Trust Holding Company (GTCO) traded 39.035 million shares valued at N1.658 billion.

Jaiz Bank traded 36.784 million shares worth N72.514 million, while UBA traded 31.957 million shares worth N796.236 million.

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Previous Performance

On Monday, investors at the NGX recorded a positive note on the first trading day of the week. Trading experienced a bull run following investors' interest in banking stocks. Market capitalisation gained N404 billion at the close of yesterday's trading.

At the close of Monday, sub-sector indices experienced bullish results, with the banking index leading gainers with a 2% increase, which was driven by buy pressure in Wema Bank, Zenith Bank, UBA, Access Holdings, and Fidelity Bank Plc.

The NGX insurance sector recorded a gain of 1.48%, while the Consumer and Industrial Goods indexes saw mild gains of 1.09% and 0.11%, respectively. The Oil/Gas sector lost 0.23% due to selling sentiments at Eterna Plc.