The Nigerian Exchange Limited showed remarkable resilience and made a strong comeback, recording a 0.43% increase on Tuesday to close at 71,250.17 points in the All-Share Index, effectively overturning the bearish trend experienced in the previous trading session. This positive momentum stands in stark contrast to Monday’s downturn, where the market shed N259 billion.
The equities market experienced a significant upswing, with an appreciation of N166 billion, leading to a market capitalization closure at N38.989 trillion, up from N38.823 trillion, underscoring the buoyancy in market sentiment.
Trading volume witnessed a notable surge, reaching 433.568 million units, in contrast to Monday’s 358.527 million units. Additionally, there was a substantial increase in trading value, rising to N11.1 billion compared to the previous day’s N7.1 billion, indicating a resurgence in investor participation and confidence.
On the performance front, the top gainers defied the previous day’s trends and demonstrated robust growth, with NSLTECH leading at +10.00% to close at N0.77. This was closely followed by MULTIVERSE at +9.95% to close at N7.07, SUNUASSUR at +9.92% to close at N1.33, FBN Holdings (FBNH) at +9.86% to close at N26.75, and THOMASWY at +9.82% to close at N3.02.
Conversely, some equities experienced a downturn, with ABBEYBDS at -9.88% to close at N1.55, FTNCOCOA at -9.09% to close at N1.50, DAARCOMM at -8.82% to close at N0.31, TANTALIZER at -7.69% to close at N0.52, and WAPIC at -7.14% to close at N0.65.
In terms of the most traded stocks, UACN took the lead with 61.71 million units at a +4.92% change, followed by UBA with 58.30 million units at a +0.24% change, GTCO with 23.00 million units at a +0.77% change, NIDF with 20.52 million units at a -0.09% change, and ACCESSCORP with 19.98 million units at a +6.32% change.
In parallel, in value terms, NIDF led the pack with N2.22 billion at a -0.09% change, followed by AIRTELAFRI with N2.12 billion at a -2.06% change, MTNN with N1.33 billion at a 0.00% change, UBA with N1.24 billion at a +0.24% change, and UACN with N947.4 million at a +4.92% change.
The notable resurgence in the Nigerian equities market on Tuesday showcases a promising recovery, marking an upturn in investor confidence and overall market performance. With robust gains and renewed investor interest in key stocks, the outlook appears buoyant, bolstering the prospects for sustained positive momentum in the days to come.
