The Nigerian Exchange Limited experienced incredible bullish movements on Tuesday as All Share Index (ASI) soared above 60,000 points at a close of 60,108.86 basis points. This means that it has gained about 1.30% chiefly due to increased ongoing interests of the investors in banking sector.
The positive price changes in the market have consequently led to more returns with Month-to-Date (MTD) growing by 7.8% while year-to-date (YTD) rose by 17.3%. Notably, large cap stocks like Guaranty Trust Holding Company, United Bank for Africa, Zenith Bank, Topenergies Seplat, Lafarge Africa, MTN Nigeria Communications, and Nigerian Breweries have been among those showing gains bigger than 5% where their share prices increased by 5.20%, 4.70%, 4.62%, 4.17%, 2.93%, 2.77% and 2.21% respectively.
Amidst these developments, Investors have made a total of N421.19 billion, while the market capitalization remained at N32.73 trillion mark. Market breadth was in support of this trend as 51 stocks gained while only 13 lost value.
Coutville and Omatek were the top gainers for today recording an impressive growth of 10.0% each, followed closely by those with biggest losses—RedStar Express and C& I Leasing—whose shares are down by 10.0% and 9.8% correspondently
The sector performance also showed great hopes as all five monitored indices closed in the green. Among the indices, the NGX Banking increased by 3.50%, NGX Insurance by 0.15%, NGX Consumer Goods by 0.40%, NGX Oil/Gas along with NGX Industrial experienced an increase of 3.21% and 0.17% respectively.
However, the stock market was a bit calm, hence trade turnover figures were lower than those recorded in the previous session. Transaction values were down by 4.01%, with 763.70 million shares worth N12.53 billion traded across 9,463 trades.
Access Holdings topped the volume table with 111.67 million units and Guaranty Trust Holding Company led in terms of value with transactions amounting to N2.69 billion.
