NGX: Investors gain N123 billion as bullish sentiment persists
The Nigerian stock market on Tuesday sustained bullish sentiment with N123 billion added to the portfolio of investors.
Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation, which opened at N59.801 trillion, gained N123 billion or 0.20 per cent to settle at N59.924 trillion.
The All-Share Index also rose by 0.20 per cent or 202 points, to close at 98,892.58, against 98,690.61 posted on Monday.
Consequently, the Year-To-Date (YTD) return rose to 32.26 per cent.
Gains in Zenith Bank, Guaranty Trust Holding Company (GTCO), FBN Holdings, United Bank for Africa(UBA), and Oando Plc, among other stocks, increased market performance.
Market breadth closed positive, with 24 gainers and 15 losers on the exchange floor.
Transcorp Hotel led the gainers’ log by 9.28 per cent to close at N106, and WAPIC followed by 9.09 per cent to close at 96k per share.
UPDC gained 6.90 per cent to close at N1.55; Universal Insurance went up by 5.88 per cent to close at 36k, while ABC Transport advanced by 4.65 per cent to close at N1.35 per share.
On the losers log, JohnHolt led by 9.84 per cent to close at N2.75, and Tantalizers trailed by 9.84 per cent to close at 55k per share.
Dangote Sugar also dropped 8.82 per cent to close at N31, Regency Alliance Insurance shed 7.14 per cent to close at 53k, and Honeywell Flour declined by 5.81 per cent to close at N4.38 per share.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 9.88 per cent.
A total of 591.01 million shares valued at N24.84 billion were exchanged in 6,987 deals, compared with 405.02 million shares valued at N27.57 billion traded by investors in 8,281 deals recorded previously.
Meanwhile, Champion led the activity log-in volume with 255.28 million, while Seplat led in value of deals worth N19.48 billion.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Economy
Global economy avoids recession, growth remains unchanged at 3.2%
The International Monetary Fund says global growth is projected to remain unchanged at 3.2 per cent in 2024 and 2025 as inflation recedes.
Politics
PDP postpones NEC meeting to November 28
The Peoples Democratic Party has rescheduled its National Executive Committee meeting from October 24 to November 28.
Africa
WFP delivers life-saving aid to one million people in Burkina Faso
WFP has reached a significant milestone in its humanitarian response in Burkina Faso, according to a report released on Tuesday.
Economy
Google, stakeholders say collaboration important in driving digital economy
According to the West Africa director for Google, Olumide Balogun, technology holds the power to transform lives and economies.
World
Israel confirms killing Hashem Safieddine, potential successor to slain Hezbollah leader
Israeli Defense Forces announced that Mr Safieddine, cousin of Mr Nasrallah, and other top-ranking Hezbollah officials were killed in an attack.
Agriculture
Reps urge CBN to increase agricultural lending to 7%
The House also urged the CBN to ensure that 50 per cent of the lending goes to smallholder farmers through microfinance institutions and farmer cooperatives.
