The Nigerian Exchange Limited rebounded on Tuesday, recording N2bn gain for investors.
The All-Share Index also appreciated by 11.54 base points to 51, 138.92, pushing the year-to-date returns marginally to 0.22 per cent at the end of trading.
Market activities showed trade turnover strengthened relative to the previous session, as the volume and value of transactions surged by 703.18 per cent and 220.17 per cent respectively.
Similarly, investors’ sentiment as measured by market breadth improved leading to 21 gainers against 21 decliners.
A total of 1.82bn units of shares valued at N5.02bn were exchanged in 4,669 deals on the NGX. Indigenous conglomerate, Transcorp, led the volume and value chart with 1.60bn units traded in deals worth N3.09bn.
Buying interests were also recorded in the shares of Nigerian Breweries (+1.10 per cent) and GTCO (+0.60 per cent).
Performance across indices was largely bearish as the insurance, banking and industrial goods indices declined by 1.43 per cent, 0.50 per cent and 0.01 per cent respectively, on the back of sell-offs in Linkage Assurance (-8.33 per cent), Zenith Bank (-0.91 per cent) and Wapco (-0.21 per cent).
Editor’s Note
In our post on February 19, 2023, in a story ‘Woman burns self to death over failure to offset N70,000 loan’, we reported that a middle-aged woman, simply known as Mama Dada, set herself ablaze over her inability to pay back a loan of N70,000 she reportedly took from a microfinance bank, LAPO. We have since discovered that the microfinance bank referred to in the story was not LAPO Microfinance Bank Limited. We apologise to the LAPO Group for the error in the identification of the name of the said microfinance bank where the deceased took the loan. The mix-up in the name of the MFB is not deliberate.
