Despite investors’ gains of N130 billion at the end of trading on Tuesday, trading activity on the Nigerian Exchange Limited decreased.
Following a day of favorable trading on the local exchange, the All-Share Index and market capitalization both saw increases of 0.33 percent to close at 71,907.26 basis points and N39.348tn, respectively. The ASI’s gain so far this year has increased to 40.30 percent.
The volume of traded equities and the number of deals decreased by 14.86% and 7.32%, respectively, to close at 6,498 deals and 319.56 million units, despite the market’s ongoing upward trajectory. In the meantime, the day’s total traded value increased from N3.85 billion on Monday to N5.88 billion, a 52.54 percent gain.
The sectorial performance revealed a bearish trend as three out of five stocks closed in the red zone. NGX Insurance, NGX Oil/Gas and NGX Industrial Goods indexes declined by 0.49 per cent, 1.03 per cent and 0.01 per cent, respectively.
However, both the Banking and Consumer Goods indices were positive as they advanced by 0.67 per cent and 0.01 per cent, respectively.
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The exchange registered 25 losers at the end of the day compared to 24 winners.
On Tuesday, investors were interested in the stocks of Infinity Trust Mortgage Bank, SCOA, Daar Communications, Royal Exchange, and Neimeth. These companies’ share prices saw notable increases of 9.79%, 9.46%, 8.82%, 8.47%, and 7.89%, respectively.
The market was mostly driven by tier-1 banking equities, such as Guaranty Trust Holding Company Plc, Zenith Bank, and AccessCorp. One of the most traded equities was FCMB’s.
Julius Berger was the most actively traded investment in terms of volume and value at the end of the trading session, with 42.54 million units valued N1.46 billion, across 42
