Nigerian Bourse Swells as Equity Portfolio Rises by N469bn
The Nigerian Exchange (NGX), the local bourse, swelled as equity portfolio value increased by about N469 billion on Tuesday, supported by bargain hunting.
The local bourse benchmark index, or all-share index, closed higher for the 16th consecutive session as local retail and institutional investors dominated trading activities.
According to trading data reviewed, the Nigerian Exchange all-share index and market capitalisation advanced by 0.46% to reach 159,951.08 and N102.28 trillion, respectively.
Trading activity displayed mixed results as share volume increased 7.12% to 745.2 million units and transaction value rose 4.48% to ₦19.4 billion, while deal count decreased 5.30% to 53,632 transactions.
Market breadth was positive, closing at 3.05x as the session produced more gainers (64) than losers (21). Gains in heavyweight DANGCEM (+4.27%) alongside STANBIC (+8.95%) outweighed declines in ARADEL (-4.79%) and UBA (-6.22%), to contribute to the market’s positive performance.
JAIZBANK (+10.00%), MEYER (+10.00%), and ABCTRANS (+9.98%) led the gainers’ log, while ALEX (-9.96%), LEARNAFRICA (-9.16%), and OANDO (-7.69%) led the laggards’ log.
Sectoral performance ended today on a mixed note. The insurance index topped gains with a 3.81% upswing, followed by the industrial index, which gained 2.68%.
Conversely, Oil & Gas led decliners, down by 2.60%. The Consumer Goods index lost 0.54%, the Commodity sector fell by 0.49%, and Banking edged lower by 0.05%. #Nigerian Bourse Swells as Equity Portfolio Rises by N469bn#
