ABUJA, Nigeria (VOICE OF NAIJA)-The Nigerian stock market sustained its positive performance on Tuesday as investors recorded a gain of N1.639 trillion amid continued bullish trading activities.
Figures from the Nigerian Exchange Limited (NGX) showed that market capitalisation rose by 1.06 per cent to N154.484 trillion at the close of trading, up from N152.845 trillion in the previous session.
Similarly, the All-Share Index (ASI) gained 2,524.00 points, or 1.06 per cent, to close at 240,743.19, compared to 238,219.19 recorded on Monday.
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Consequently, the market’s Year-to-Date (YTD) return increased to 54.71 per cent, while market breadth remained positive with 33 stocks posting gains against 23 decliners.
Among the top performers, Airtel Africa and Guinea Insurance recorded the highest gains, appreciating by 10 per cent each to close at N4,358.80 and N1.10 per share, respectively.
On the downside, Red Star Express led the laggards after losing 9.96 per cent to close at N24.86 per share, while Premier Paints fell by 9.93 per cent to settle at N30.40 per share.
Trading analysis showed that investors exchanged 564.9 million shares valued at N39.35 billion in 49,230 deals.
This was higher than the 475.82 million shares worth N36.49 billion traded in 63,567 transactions during Monday’s session.
Fidelity Bank recorded the highest trading volume, with 59.37 million shares traded, representing 10.51 per cent of the total volume for the day.
By value, MTN Nigeria led market activity with transactions worth N8.02 billion, accounting for 20.40 per cent of the total value traded during the session.