The Nigeria Exchange Limited (NGX) saw a significant jump in turnover on Tuesday, reaching N8.29 billion, a 187% increase from the previous day’s closing figure of N2.9 billion.
However, the NGX All Share Index (ASI) decreased by 246.48 points, closing at 51,446 for a weekly loss of 0.29% and a 4-week gain of 6.37%.
The overall year-to-date gain for the market stands at 0.38% with the market capitalization at N28 trillion.
A total of N345.5 million shares were traded in 4,184 deals, with a market value of N8.29 billion. This represents a 51% increase in volume compared to the previous trading session when N229.2 million shares were exchanged.
The high trade volume can be attributed to stocks such as FBNH, which traded at N151.3 shares valued at N1.7 billion, and BUACEMENT, which traded at N30.5 shares valued at N2.9 billion. ZENITH also had a high trade volume, with N25.45 million shares traded at a value of N619.7 million.
Investor sentiment remained positive, with 18 stocks experiencing gains in value and 16 others depreciating.
THOMASWY had the largest increase, rising 9.43% to close at N1.16 per share. MBENEFIT followed with a 7.14% increase, closing at N0.30 per share. Other stocks with gains include ACADEMY, which rose 5.65% to close at N1.31 per share, LASACO and CHAMS, which both rose 4.44% and 4.35% respectively to close at N0.94 and N0.24 per share.
On the losing end, NEM had the largest decrease, losing 10% to close at N4.05 per share. CHELLARAM followed closely with a 9.90% decrease, closing at N1.82 per share.
Other losing stocks at the close of Tuesday’s trading included CHAMPION, CORNERST, and HONYFLOUR, which lost 9.58%, 6.67% and 4.96% respectively to close at N4.34, N0.56, and N2.30 per share.
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