The Nigerian Stock Exchange maintained its bullish trend on Tuesday, with investors gaining N45 billion. The index increased by 0.08% to close at 96,873.74, and the market capitalization rose to N55.65 trillion.
Despite positive investor sentiment, the market breadth was negative, with 29 equities gaining and 30 equities declining. Investors traded 473 million shares valued at N10.41 billion in 12,532 deals, marking a 5% decline in volume, a 6% drop in turnover, and a 5% decrease in the number of deals compared to Monday.
Top gainers included Industrial & Medical Gases, C&I Leasing, Guinea Insurance, and Eterna, each rising by 10%. Conversely, RT Briscoe led the losers, dropping by 10% to N2.88 per share. Abbey Mortgage Bank, Secure Electronic Technology, and McNichols also saw significant declines.
In terms of trading volume, Access Holdings led with 106 million shares traded, followed by Oando with 46.9 million shares, Prestige Assurance Company with 31.7 million shares, and United Bank for Africa with 20.2 million shares.
The market’s performance showed cautious optimism among investors, with gains tempered by profit-taking activities. Despite mixed outcomes, the sustained bullish trend indicates continued investor confidence.
The market began September with a N124 billion gain, as the All-Share Index rose by 0.22% to 96,793.95 points, and market capitalization closed at N55.60 trillion.
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