The Nigerian Exchange (NGX) rebounded on Tuesday as bullish investors swooped in on fundamentally strong stocks, lifting the market after a brief stint in negative territory.
The benchmark index advanced by 0.85 per cent, reflecting renewed bargain-hunting across key sectors.
Airtel Africa topped the gainers’ chart, rallying by 10.00% to N2,497.00. Consolidated Hallmark also posted a 10.00% gain to close at N4.95, while John Holt and Legend Internet recorded equal 10 per cent jumps to finish at N14.30 and N6.60, respectively. Zichis followed closely with a 9.97% rise to N10.37.
However, the day was not entirely bullish. NPF Microfinance Bank led the losers after shedding 6.29% to N6.56, Royal Exchange dipped 5.32% to N1.78, CWG slipped 4.82% to N20.75, Veritas Kapital fell 4.21% to N2.05, and UPDC declined 3.88% to N4.95.
Market breadth closed positive, with 32 equities on the gainers’ chart against 26 decliners, indicating a bullish investor mood on Customs Street.
Sectoral performance showed buying interest spread across major indices. The insurance, consumer goods, and banking sectors appreciated by 2.14%, 0.53%, and 0.50% respectively, while industrial goods and energy counters ended the session flat.
The All-Share Index (ASI) surged by 1,691.86 points, settling at 200,705.88 points compared to Monday’s 199,014.02 points. Market capitalisation also jumped by N1.086 trillion, closing at N128.836 trillion, up from N127.750 trillion.
Trading activity strengthened as investors exchanged 1.3 billion units valued at N65.3 billion across 89,949 deals, an improvement in volume and value compared to Monday’s 848.8 million shares worth N53.3 billion. Although the number of deals fell by 35.50%, trading volume and value rose by 53.16% and 22.51%, respectively.
Access Holdings led the activity chart with 266.8 million shares worth N6.0 billion, followed by GTCO with 184.4 million units valued at N19.4 billion. Wema Bank moved 182.5 million shares at N4.8 billion, UBA traded 119.1 million units worth N5.8 billion, while Zenith Bank posted 42.7 million shares valued at N4.6 billion.
