Lagos: The equities market maintained its positive momentum on Tuesday. Market capitalisation rose by 0.12 per cent to close at N106.088 trillion.
This is an increase of N126 billion from the previous session’s N105.962 trillion. It reflects growth in investors’ wealth.
The All-Share Index (ASI) also appreciated by 0.12 per cent. It gained 196.26 points to close at 165,713.82, up from 165,517.56 posted earlier.
The uptrend in the equities market was driven largely by renewed buying interest in medium- and large-cap stocks like: Union Homes Real Estate, SCOA, Deep Capital Management, Morison, RT Briscoe, and 28 others.
With 33 gainers and 26 losers, the market breadth again closed on a positive note.
Union Homes Real Estate Investment, SCOA, and Deep Capital Management led the gainers’ chart by 9.94 per cent, closing at N86.25, N28.75, and N8.63 per share, respectively.
Similarly, Morrison grew by 9.92 per cent, settling at N9.09, while RT Briscoe rose by 9.89 per cent, finishing at N7.22 per share.
Conversely, Austinlaz led the losers’ chart by 9.96 per cent, ending the session at N4.34, Neimeth International Pharmaceutical trailed by 9.62 per cent, closing at N10.80, and Prestige Assurance shed by 7.37 per cent, finishing at N1.76 per share.
Africa Prudential dipped by 6.96 per cent, settling at N14.70, and Veritas Kapital fell by 6.86 per cent, closing at N1.90 per share.
Analysis of the market activity revealed a 20 per cent drop in volume, a 29 per cent decline in deals, and a 0.43 per cent increase in the value.
A total of 483.09 million shares, valued at N17.4 billion, were exchanged across 41,499 transactions, compared to 601.6 million shares valued at N17.3 billion traded across 58,429 deals.
Access Corporation recorded the highest volume, with 26.46 million shares traded. This accounted for 5.48 per cent of the day’s total volume traded.
For the second session in a row, Guaranty Trust Holding Company recorded the highest value traded at N2.49 billion. This accounted for 14.33 per cent of the day’s total value traded.
