Investors’ Portfolios Leap N884bn as Market Capitalisation Hits N158.623trn

By Dipo Olowookere

Buying interest across the major sectors of the Nigerian Exchange (NGX) Limited further increased the key performance indicators by 0.77 per cent on Tuesday.

According to data from Customs Street, the energy space surged by 3.87 per cent, the insurance sector appreciated by 3.34 per cent, the banking and consumer goods indices gained 0.87 per cent each, and the industrial goods segment rose by 0.71 per cent.

Consequently, the All-Share Index (ASI) advanced by 1,368.89 points to 245,568.28 points from 244,199.39 points, and the market capitalisation soared by N884 billion to N158.623 trillion from the N157.739 trillion it ended a day earlier.

McNichols and FTN Cocoa chalked up 10.00 per cent each to sell for N4.95 and N8.25, respectively. Sunu Assurances expanded by 9.94 per cent to N3.43, Sovereign Trust Insurance improved by 9.57 per cent to N2.06, and Caverton leapt by 9.52 per cent to N4.60.

On the flip side, Tripple Gee lost 9.72 per cent to settle at N2.60, ABC Transport shed 9.52 per cent to quote at N4.75, NAHCO slipped by 9.22 per cent to N136.35, RT Briscoe declined by 9.21 per cent to N10.35, and UPDC REIT fell by 4.93 per cent to N13.50.

Business Post reports that the market breadth was bullish during the session, as there were 41 price gainers and 20 price losers, indicating strong investor sentiment.

As for the activity log, it was mixed after the trading volume increased by 4.01 per cent to 630.5 million units from the previous day’s 606.2 million units, the trading value contracted by 0.78 per cent to N38.4 billion from N38.7 billion, and the number of deals retreated by 19.44 per cent to 43,075 deals from 53,471 deals.

The busiest equity for the session was Access Holdings, with a turnover of 125.8 million units valued at N4.0 billion. CMFC exchanged 57.9 million units worth N162.4 million, Linkage Assurance traded 36.3 million units for N70.0 million, GTCO sold 30.7 million units valued at N4.1 billion, and Nigerian Breweries transacted 29.3 million units worth N2.2 billion.