The local bourse continued to perform well on Tuesday, with investors gaining N1.93 trillion. In particular, the market capitalization finished at N45.523 trillion, a N1.93 billion or 4% increase from N43.597 trillion on Monday.
As a result, the benchmark of the All-Share index rose by 4%, or 2,867.31 points, to end at 83,191.84, up from 80,324.53 on Monday. As a consequence, the YTD return increased to 11.26 percent.
Market activity analysis revealed that trade turnover settled higher than the previous session, with the value of transactions increasing by 61.77 percent. The key drivers of the strong performance were buying activity in Dangote Cement, MTN Nigeria, and BUA Foods stocks.
Meanwhile, 1.41 billion shares valued at N24.68 billon were exchanged in 17,144 deals. Fidelity Bank led the activity chart in volume with 141.75 million units traded at N1.96 billion.
First City Monumental Bank(FCMB) also traded 128.97 million shares valued N1.48 billion, while United Bank of Africa (UBA) transacted 117.71 million shares at N3.8 billion. Dangote Reacts to EFCC Visit to Headquarters
Transcorp sold 108.34 million share valued N1.6 billion, while Access Holdings traded 85.21 million shares worth N2.52 billion.
On the gainer’s chart, Guinea Insurance, Cadbury, FTN Cocoa Processors, First Bank of Nigeria Holdings and Universal Insurance led in percentage terms of 10 each to close at 44k, N18.15, N2.20, N28.60 and 33k per share, respectively.
Conversely, Total led the looser’s table in percentage terms of 10 per cent to close at N346.50. Daar Communications followed with lost 9.40 per cent to close at N1.06, RT Briscoe shed 8.45 per cent to close at 65k.
Also, SUNU Assurance declined by 7.69 per cent to close at N1.20 and Prestige lost 7.41 per cent to close at 50k. However, market breadth closed positive, as 67 equities traded on the gainers table, while 13 others traded on the losers table.
