Equities trading at the Nigerian Exchange Limited (NGX) on Tuesday was positive to reverse the previous day’s loss, triggered by buying interest in Airtel Africa Plc and 20 others.
Consequently, the All Share Index (ASI) rose by 352.49 basis points, representing a gain of 0.67 percent to close at 52,701.31 basis points.
Accordingly, investors gained N192 billion in value as market capitalisation went up to N28.705 trillion by the end of the day’s trading activities.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Airtel Africa, Nestle Nigeria, MRS Oil Nigeria, Flour Mills of Nigeria and Vitafoam Nigeria.
Market breadth closed positive as 21 stocks posted gains while 15 stocks posted declines. On the performance board, UPDC Real Estate Investment Trust (UPDCREIT) recorded the highest price gain of 10 percent to close at N3.30, per share. MRS Oil Nigeria followed with a gain 9.93 percent to close at N15.50, while Chellarams went up by 9.92 per cent to close at N1.33, per share.
SUNU Assurance went up by 8.82 percent to close at 37 kobo, while McNichols appreciated by 7.02 percent to close at 61 kobo, per share.
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On the other hand, UACN Property Development Company (UPDC) led the losers’ chart by 6.93 percent to close at 94 kobo, per share. Geregu Power followed with a decline of 6.71 percent to close at N139.00, while Linkage Assurance went down by 6.38 to close at 44 kobo, per share.
Royal Exchange lost 5.26 percent to close at 90 kobo, while PZ Cussons Nigeria shed 5.21 percent to close at N10.00, per share.
Meanwhile, market activities uptick as the total volume traded increased by 3.0 percent to 228.487 million shares, worth N4.443 billion, and traded in 3,681 deals.
Transactions in the shares of Sterling Bank topped the activity chart with 76.739 million shares valued at N118.908 million. Chams followed with 17.568 million shares worth N5.180 million, while Guaranty Trust Holding Company (GTCO) traded 16.754 million shares valued at N401.981 million.
Zenith Bank traded 11.323 million shares valued at N276.034 million, while Royal Exchange transacted 10.651 million shares worth N9.341 million.
