By Kehinde Akinseinde-Jayeoba
Copyright tribuneonlineng
On Tuesday, the Nigerian stock market extended its upward trajectory, with the NGX All-Share Index (ASI) rising by 0.29 percent to close at 139,796.11 basis points.
Specifically, gains in Lafarge Africa, Guaranty Trust Holding Company, and International Breweries spurred the increase in the ASI, with their share values appreciating by 6.2 percent, 0.54 percent, and 4.1 percent, respectively.
Consequently, the month-to-date and year-to-date returns settled at -0.4 percent and +35.8 percent, respectively.
Total market capitalization increased by N253.95 billion to N88.45 trillion.
Market sentiment remained strong, as reflected in a positive market breadth, with 36 stocks advancing against 18 decliners.
Leading performers included Regal Insurance, Mercure, eTranzact, Daar Communications, and Deap Capital Management, which recorded the most significant gains of the day. On the other hand, Unilever Nigeria and FTN Cocoa Processors led the laggards, posting declines of 9.8 percent and 9.4 percent, respectively.
Sectoral performance was mixed, with gains in the Banking, Insurance, Consumer Goods, and Industrial sectors. However, the Oil & Gas sector dipped by 0.05 percent, while the Commodity sector remained unchanged.
Overall, trading activity was subdued, as the number of deals fell by 29.70 percent to 25,334; trading volume dropped by 30.46 percent to 659.17 million units; and trading value declined by 30.39 percent to N15.51 billion.
FCMB Group emerged as the most traded stock by both volume and value, at 202.49 million units and N2.10 billion, respectively.
