Nigerian Stock Market Records Slight Gain on Tuesday
The Nigerian Exchange (NGX) concluded Tuesday’s trading session with a modest uptick as the All-Share Index (ASI) edged higher by 0.03%, reaching 109,730.47 points compared to Monday’s close of 109,697.83 points.
Market value increased by N21 billion, with total capitalisation rising 0.03% to N68.966 trillion from the previous day’s N68.945 trillion.
Trading activity saw approximately 497 million shares exchanged across 18,795 transactions, with a total value of N13 billion.
Market sentiment was slightly bearish, with 32 stocks declining versus 31 advancing.
Insurance provider Regency Alliance led the gainers alongside TRIPPLEG and food manufacturer NESTLE, each posting maximum daily gains of 10%. Regency Alliance closed at N0.66, TRIPPLEG at N2.20, and NESTLE at N1,464.10.
Other notable performers included TANTALIZER, which advanced by 9.88%, and MULTIVERSE, which gained 9.60%.
Paint manufacturer BERGER topped the losers’ chart, falling 9.98% to close at N21.20, down from its previous price of N23.55.
Other significant declines came from Mutual Benefits, which dropped 9.80%, and ABC Transport, which fell 9.77%.
The banking sector dominated trading volumes:
– Fidelity Bank was the most actively traded stock with approximately 60 million shares changing hands across 1,277 deals, valued at roughly N1 billion.
– United Bank for Africa (UBA) followed with about 36 million shares traded in 828 transactions worth N1.2 billion.
– CUSTODIAN also saw significant activity with around 36 million shares exchanged in 121 deals, totalling approximately N698.8 million.
