Nigerian Stock Exchange Extends Bullish Run, Investors Pocket N45bn Gain
The Nigerian Stock Exchange (NSE) continued its upward trajectory on Tuesday, with investors reaping a significant N45 billion gain. The All-Share Index rose by 0.08 per cent to close at 96,873.74, while the market capitalisation reached N55.65 trillion.
Despite the positive sentiment among investors, the market breadth closed negative, with 29 equities recording gains and 30 equities experiencing declines in their share prices. The volume of trades decreased by five per cent, with investors exchanging 473 million shares valued at N10.41 billion in 12,532 deals.
Industrial & Medical Gases, C&I Leasing, Guinea Insurance, and Eterna led the gainers’ chart, with each stock rising by 10 per cent. On the flip side, RT Briscoe suffered a 10 per cent drop to N2.88 per share, while Abbey Mortgage Bank, Secure Electronic Technology, and McNichols lost 9.96 per cent, 9.72 per cent, and 9.68 per cent, respectively.
Access Holdings dominated the trading volume chart, with 106 million shares traded, followed by Oando, Prestige Assurance Company, and United Bank for Africa.
The market’s performance reflected cautious optimism among investors, with gains being tempered by profit-taking activities. Despite the mixed outcomes, the sustained bullish trend suggests continued investor confidence in the market.
The NSE opened its first trading day of September with a N124 billion gain, as the All-Share Index appreciated by 0.22 per cent to 96,793.95 points and market capitalisation closed at N55.60 trillion.
