Lagos, Nigeria: The Nigerian Exchange Limited (NGX) experienced a notable increase in trading activity on Tuesday, with 1.24 billion shares exchanged across 28,009 transactions, totalling a market value of ₦29.8 billion.
This compares to 383.9 million shares worth N11.61 billion, posted on Monday and exchanged in 28,114 deals.
This marked an increase in market value and volume, accompanied by a decline in deals compared to the previous session.
Fidelity Bank led the trading activity in terms of volume and value, with 793.04 million shares valued at N15.88 billion.
NCR Nigeria followed with 66.77 million shares worth N1.07 billion, while Zenith Bank sold 49.4 million shares valued at N3.4 billion.
Sterling Nigeria traded 28.3 million shares worth N220.5 million, and FCMB transacted 25.3 million shares valued at N269.9 million.
Meanwhile, the stock market maintained a bullish trend, with investors gaining N465 billion in value.
Market capitalisation rose by N465 billion or 0.52 per cent, closing at N90.580 trillion from N90.115 trillion on Monday.
Likewise, the All-Share Index (ASI) climbed 332.92 points or 0.23 per cent, ending at 142,710.48, up from 142,377.56.
The bullish performance was driven by increased investor interest in 28 gainers, including: UPDC, Nigerian Enamelware, Eterna, Aradel Holdings and The Initiates Plc.
However, the market breadth closed negative with 32 losers and 28 gainers.
Union Dicon Salt led the losers’ table by 10 per cent, settling at N8.10. Champion Breweries trailed by 7.09 per cent, finishing at N13.75, while Royal Exchange dipped by 5.96 per cent, ending the session at N2.05 per share.
Wema Bank declined by 5.56 per cent, closing at N17, and Custodian Investment fell by 5.12 per cent, finishing at N40.80 per share.
Conversely, UPDC led the gainers’ table by 9.98 per cent, closing at N6.61. Nigerian Enamelware followed with a gain of 9.97 per cent, ending the session at N38.60, and Eterna gained 9.95 per cent, settling at N33.70 per share.
Aradel Holdings grew by 9.82 per cent, finishing at N615, while the Initiates soared by 9.77 per cent, closing at N14.60 per share.