Nigerian Stock Market extended its positive run on Tuesday as investors added N1.838 trillion to their portfolios.
This comes as Nigerian Exchange Limited’s market capitalization rose from N111.658 trillion to N113.496 trillion at the close of trading on Tuesday, an increase of 1.65 percent or N1.838 trillion.
Also, the All-Share Index surged from 173,946.22 to 176,809.43, gaining 1.65 percent, or 2,863.21 points.
The uptrend was due to investors’ continued interest in stocks like Etranzact, John Holt, Deap Capital Management, Omatek, Vitafoam, and 61 other equities.
As a result, NGX’s year-to-date (YTD) return rose to 13.62 percent as the market breadth closed positive, recording 66 gainers against 22 losers.
On the gainer’s chart, Etranzact, John Holt, Deap Capital Management, and Omatek Ventures led by 10 percent each, settling at N20.35, N8.80, N8.25, and N3.19 per share, respectively.
Conversely, Abbey Mortgage Bank led the losers’ chart by 9.82 percent, ending the session at N12.40, followed by Skyway Aviation Handling Company, Guinea Insurance, Consolidated Hallmark Holdings, and Livestock Feeds stocks.
Further analysis showed that a total of 1.3 billion shares valued at N50.4 billion were exchanged in 58,965 transactions, against 775.18 million shares worth N27.9 billion that were traded across 65,960 deals earlier on Monday. This translates to a 35 percent increase in volume, 75 percent growth in value, but an 11 percent decline in deals.
Meanwhile, Deap Capital Management recorded the highest volume with 283.12 million shares traded, accounting for 21.73 percent of the day’s total volume.
MTN Nigeria recorded the highest value traded at N6.80 billion, accounting for 13.49 percent of the total value traded for the day.
Recall that on Monday, investors ranked in a N1.4 trillion gain at the end of trading at NGX.
