NGX recovers, adds N93bn to market capitalisation

Stocks closed higher on Tuesday as the Nigerian Exchange reversed losses from the previous session, with market capitalisation rising by N93.48bn to N106.44tn from N106.34tn on Monday.

The All-Share Index also edged up by 144.33 points, or 0.09 per cent, to close at 166,256.83 points, compared with 166,112.50 points in the prior session, reflecting renewed investor interest in select equities.

Trading activity improved in both volume and value terms, although the deal count declined. A total of 795.46 million shares valued at N19.98bn were exchanged in 45,390 deals, representing a 26 per cent increase in volume and a 35 per cent rise in turnover, while deals fell by 22 per cent compared with the previous trading day.

In total, 130 equities participated in trading, with 39 gaining and 25 losing. Red Star Express led the gainers, appreciating by 10 per cent to close at N15.95 per share. It was followed by Deap Capital Management & Trust, NPF Microfinance Bank, and NCR Nigeria, which gained 10 per cent, 10 per cent, and 9.97 per cent, respectively.

On the losers’ chart, Aluminium Extrusion Industries declined by 9.95 per cent to N17.20 per share, while Jaiz Bank shed 9.88 per cent to close at N7.21. FTN Cocoa Processors and UPDC also recorded losses of 8.44 per cent and 8.06 per cent, respectively.

Tantalizers recorded the highest trading volume with 87.0 million shares exchanged, followed by Secure Electronic Technology with 74.2 million shares, Zichis Agro Allied Industries with 69.6 million shares, and Zenith Bank with 49.1 million shares.

In value terms, GTCO topped the chart with trades worth N3.79bn, followed by Zenith Bank at N3.53bn, Aradel Holdings at N2.80bn, MTN Nigeria at N964.6m, and Access Holdings at N692.0m, as investors repositioned portfolios amid cautious optimism in the market.

The PUNCH reported that the Nigerian Exchange started the week on a bearish note as the market capitalisation fell by N10.9bn at the close of trading on Monday.

Source: https://punchng.com/ngx-recovers-adds-n93bn-to-market-capitalisation/