Investors Gain N228bn as NGX Extends Rally by 0.32%

Samuel Mobolaji

The Nigerian Exchange continued its positive momentum on Tuesday, with investors gaining approximately N228 billion as the All-Share Index rose by 0.32% to close at 112,781.73 points. Market capitalisation also appreciated by 0.32%, ending the session at N71.12 trillion. The year-to-date return improved to 9.58%.

Investor confidence was buoyed by strong performances in large- and mid-cap stocks, with OANDO rallying 10.00%, PZ rising 5.76%, and MAYBAKER gaining 6.56%. These advances outweighed losses in ETI (-2.03%), REGALINS (-4.62%), and TANTALIZER (-4.47%).

Total trade volume declined slightly by 1.78% to 611.53 million units, while trade value rose 3.45% to N16.68 billion. The number of deals fell 19.73% to 16,682. FIDELITYBK led the volume chart with 93.47 million shares traded, while GTCO, up 2.21%, topped the value chart with trades worth N5.95 billion.

Market breadth closed positive at 1.52-to-1, as the number of advancers surpassed decliners, indicating renewed bargain hunting. OANDO (+10.00%) led the gainers’ chart, while NCR (-9.89%) recorded the steepest loss.

On the NASD OTC platform, the NSI rose by 0.75% to 3,292.2 points, with market capitalisation gaining to N1.93 trillion. However, trading activity declined as volume fell 65.19% to 434,892 units and value dipped 19.32% to N18.47 million.