Investors’ Wealth in Stock Rises by N393.54 Billion

Investors at the Nigerian stock market recorded additional fortune on their investments on Tuesday as the day’s trading session closed on a positive note.

Specifically, the market benchmark index added 111 basis points to close at 65,991.02 points, compared to its Monday closing value of 65,268.28.

This translated into N393.54 billion profit for the investors, raising aggregate valuation of equities investments at the local bourse to N35.933 trillion from N35.539 it closed on Monday.

The positive stand of the market was propped by investors’ interest registered in highly capitalized stocks such as SEPLAT (+9.99%), GEREGU (+3.60%) and MTN (+5.52%) which led to a notable upward movement in Nigeria Exchange All-Share Index (ASI).

The positive closure in the stock market’s performance was also driven by substantial gains in some other stocks such as GTCO (+0.52%), ACCESSCORP (+0.28%), UNILEVER (+9.72%), and DANGSUGAR (+2.18%), along with 28 other stocks.

Consequently, the Year to Date (YTD) return experienced a significant upswing, reaching 28.76%.

On the flip side, the total volume traded declined by 33.4% to 553.52 million units, valued at N7.42 billion, and exchanged in 8,313 deals.

While JAPAULGOLD was the most traded stock by volume at 72.49 million units, GTCO emerged as the most traded stock by value at N1.70 billion.

On sectors, the Oil & Gas (+3.3%) and Banking (+0.5%) indices recorded gains, while the Industrial Goods (-0.1%) and Insurance (-0.1%) index declined. The Consumer Goods index closed flat.

As measured by market breadth, market sentiment was positive as 32 tickers gained relative to 30 losers. IKEJAHOTEL (+10.0%) and FTNCOCOA (+10.0%) recorded the highest gains of the day, while CONOIL (-10.0%) and LEARNAFRCA (-10.0%) topped the losers’ list.

Meanwhile, market dealers anticipate a bullish sentiment in the equities market throughout the  week, as firms rollout half year results.