By Chiamaka Okechukwu, LagosOn Jun 27, 2023
Nigeria’s equities market sustained its bullish activity for the second trading day of the week as key index appreciated 1.30%.
The local bourse All-Share Index, ASI trended upwards by 0.13%, surpassing the 60,000-point mark to close at 60,108.86, with 772.98 absolute points compared to 59,335.88 points of the previous day, led by sustained bargain-hunting activities in Banking shares.
Consequently, the year-to-date gain of the NGX ASI climbed to 17.28% even as the number of gainers recorded stood at 51 outweighed that of 13 losers, specifically, large-cap stocks such as GTCO, UBA, ZENITHBANK, TOTAL, SEPLAT, WAPCO, MTNN, and NB were the toast of investors on Tuesday as their respective share prices rose by 5.20%, 4.70%, 4.62%, 4.17%, 2.93%, 2.77%, and 2.21%.
Investors witnessed an increase of N65 billion on market capitalisation of listed equities to close at N32.729 trillion higher than Monday’s N32.308 trillion.
Similarly, sectorial performance exhibited a positive trajectory, with all five tracked indices closing in the green zone: the NGX Banking, NGX Insurance, NGX Consumer Goods, NGX Oil/Gas, and the NGX Industrial indices rose by 3.50%, 0.15%, 0.40%, 3.21%, and 0.17%, respectively.
Meanwhile, market activity improved, with total deals and volume increasing by 17.52% and 38.18% to close at 9,463 trades and N763.70 million units.
At the end of business on Tuesday, AFROMEDIA, COURTVILLE, IKEJA Hotel and OMATEK made gainers table with 10% profit on their respective share prices to close at N0.22k, N0.66k, N3.63k and N0.33k. TRANSCOHOT followed with a 9.97% gain on its share price to close at N21.29k while ELLAHLAKES had a 9.88% profit on its share price to close at N3.56k.
On the other hand, REDSTAREX led the losers list with 10% loss on its share price to close at N3.15k followed by CILEASING with a 9.79% to close at N3.50; then MORISON lost 9.22% to close at N1.97k per share.
In terms of volume, ACCESSCORP emerged as the most actively traded stock, with 111.67 million shares worth N1.74 billion exchanging hands in 654 deals.
Confidence Okwuchi
