Investors Gain as Market Capitalisation Crosses N159 Trillion Mark

The Nigerian Exchange Limited (NGX) sustained its bullish momentum on Tuesday, with market capitalisation crossing the N159 trillion mark as investors gained N307 billion.

The positive performance marked the third consecutive trading session of gains, driven by sustained buying interest in insurance, consumer goods, industrial goods and oil and gas stocks.

The stocks included UPDC Real Estate Investment Trust (UPDC REIT), Thomas Wyatt Nigeria, Ikeja Hotel, The Initiates Plc, Neimeth International Pharmaceuticals, and 29 other gainers.

Specifically, market capitalisation rose by 0.19 per cent to N159.119 trillion from N158.812 trillion recorded at the close of trading on Monday.

Similarly, the All-Share Index (ASI) gained 475.60 points, or 0.19 per cent, to close at 246,659.56, compared with 246,183.96 in the previous session.

The rally lifted the market’s year-to-date return to 58.51 per cent, while market breadth remained positive with 34 gainers against 22 losers.

UPDC Real Estate Investment Trust led the gainers’ chart with a 9.86 per cent appreciation to close at N11.70 per unit.

Thomas Wyatt Nigeria followed with a gain of 9.73 per cent to N3.72, while Ikeja Hotel advanced by 9.53 per cent to close at N46.55 per share.

Also, The Initiates Plc rose by 9.52 per cent to N33.95, while Neimeth International Pharmaceuticals appreciated by 9.47 per cent to close at N9.25 per share.

Conversely, FG142027S1 topped the losers’ table, shedding 9.98 per cent to close at N67.52.

Mecure Industries declined by 9.95 per cent to N76.95, while Haldane McCall lost 9.86 per cent to close at N3.29.

Critical Minerals Financing Company fell by 9.85 per cent to N3.02, while Trans-Nationwide Express dropped 9.68 per cent to N2.80 per share.

Market activity was mixed, as trading volume increased while the value and number of deals declined.

A total of 932.45 million shares worth N49.28 billion were traded in 50,059 transactions, compared with 851.63 million shares valued at N49.59 billion exchanged in 56,873 deals on Monday.

Access Corporation emerged as the most actively traded stock, accounting for 336.62 million shares valued at N8.65 billion.

The transactions represented 36.10 per cent of the total trading volume and 17.55 per cent of the day’s turnover.

(NAN)