The Nigerian Exchange continued its upward trend on Tuesday, recording a growth of N26 billion as investor sentiment remained optimistic regarding market dynamics.
The All-Share Index rose by 41.89 points, equating to a 0.04 percent gain, closing at 105,593.28 points. This marks a cumulative gain of 0.21 percent over the past week, a decline of 2.03 percent over the last four weeks, and an overall year-to-date increase of 2.59 percent.
During the trading session, the total volume of shares traded reached 349,326,138 units, with a value of N15.08 billion across 12,450 transactions. This represents a 21 percent decrease in volume from the previous trading day, a 44 percent increase in turnover, and a six percent drop in the number of deals. The current market capitalization of the exchange stands at N66.2 trillion.
Analyzing market performance, 123 equities were active, exhibiting 29 gainers and 21 losers. May & Baker Nigeria led the list of gainers with a notable 10 percent rise in share price, closing at N8.80 per share. Mutual Benefits Assurance followed closely, appreciating by 9.59 percent to close at N0.80 per share, while E-Tranzact International experienced a 9.38 percent increase, ending at N5.25 per share. Abbey Mortgage Bank also showed strong performance, gaining 8.86 percent to close at N4.30 per share. Other significant gainers included Consolidated Hallmark Insurance, which rose by 8.79 percent to N3.59 per share, and Regency Alliance Insurance, climbing by 8.06 percent to finish at N0.67 per share.
Conversely, Eterna Plc topped the losers’ chart, witnessing a 9.21 percent decline to close at N34.50 per share. Royal Exchange followed with a 7.95 percent loss, ending at N0.81 per share, while Veritas Kapital Assurance shed 5.98 percent to close at N1.10 per share. Wapic Insurance declined by 5.88 percent to N2.24 per share, and Oando Plc dropped by 5.66 percent, closing at N50.00 per share.
The banking sector saw robust trading activity, with Access Holdings leading in volume at 36.6 million shares traded. United Bank for Africa closely followed with 26.5 million shares, while Universal Insurance Company and Fidelity Bank managed 22 million and 20.5 million shares, respectively.
Sectoral indices exhibited mixed performances. Notably, the Top 30 Index increased by 0.05 percent, representing a one-week gain of 0.39 percent and a year-to-date increase of 2.82 percent. The Insurance Index recorded the highest gain of the day, rising by 1.99 percent, although it experienced a one-week loss of 1.74 percent and a year-to-date decline of 4.07 percent. The NGX Banking Index advanced by 1.33 percent, sustaining a one-week gain of 3.41 percent and a year-to-date increase of 6.5 percent.
Other key indices saw slight gains, including the Pension Index, which rose by 0.43 percent, achieving a one-week gain of 1.35 percent and a year-to-date increase of 5.46 percent. The Premium Index recorded an increase of 0.19 percent, reflecting a one-week gain of 0.5 percent and a year-to-date rise of 5.26 percent. Meanwhile, the Industrial Index showed minimal movement, with a marginal gain of 0.01 percent but a year-to-date loss of 2.31 percent.
The Nigerian equity market rebounded on Monday with impressive gains of N369 billion, as the All-Share Index increased by 0.56 percent, closing at 105,551.39 points, effectively reversing losses from the previous week.
