At the close of trading on Tuesday, the equity market sustained its bullish trend as investors gained ₦294 billion.
The market capitalisation of the Nigerian Exchange and the All-Share Index rose by 0.53 per cent to settle at ₦55.65tn and 98,383.04 basis points, respectively. The market participation also increased as the volume of traded units increased by 52.49 per cent to 559,608,966 units.
Bullish activity dominated the day’s trade with the exchange recording more gainers at 28 than losers at 14.
Leading the gainers’ chart was Dangote Sugar with a 10 per cent appreciation to ₦42.90, Morison Industries Plc stocks rose by 9.88 per cent to close at ₦4.45 and National Salt Company gained 9.88 per cent to close trading at ₦37.25 per share.
Some of the notable losers in the equity market were Sovereign Trust Insurance which lost 9.52 per cent to close at ₦0.38, Universal Insurance Plc shed 8.33 per cent to close trading at ₦0.33 and The Initiate Plc lost per cent to close at ₦1.71.
Seplat Energy Plc was the most traded securities by value, amounting to ₦1.60bn worth of shares exchanged in 51 deals, while Abbey Mortgage Bank led the volume chart with 277,527,586 units traded in eight deals.
On the sectoral front, five indexes gained and one index dipped, indicating good performance across sectors.
The consumer goods and insurance indexes increased by 1.1 per cent and 0.7 per cent, respectively. Buy interest in UBA, First Bank Holdings, Seplat, and Japaul Gold and Ventures Plc helped the Banking and Oil and Gas indexes to rise 2.4 per cent and 1.9 per cent, respectively.
Conversely, the Industrial goods sector was the only laggard, declining by 0.20 per cent.
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