Nigeria’s Stocks Market Resumes Bullish Run

Nigeria’s equities market rebounded from Monday’s decline to extend its bullish run for the year by N137 billion on Tuesday.

Investors traded 235,233,902 shares worth N1.918 billion in 4,151 deals during the trading hours of Tuesday, against  214,315,212 shares valued at N2.689 billion that exchanged hands in 4,410 transactions on Monday.

The Nigerian Exchange Limited (NGX) All-Share Index gained 0.58 percent to 44,655.89 index points, up from 44,399.66 index points it settled on Monday. Market value appreciated by N137 billion from N23.922 trillion to N24.059 trillion on Tuesday.

A sectoral breakdown showed that the NGX Banking Index appreciated by 98bps on the back of ETI (+3.45%), Access Bank (+2.11%), Unity Bank(+2.08%), Fidelity Bank (+1.89%), Sterling Bank (+1.29%), and Zenith Bank (+0.78%). Wema Bank and Union Bank closed in the red with -2.25 percent and UBN -0.88 percent, respectively.

The NGX Consumer Goods Index rose by 69bps on 7.35 percent and 0.18 percent gain in Dangote Sugar and Flour Mill, respectively. While the Oil and Gas Index also inched higher by 25 basis points on Eterna and Conoil’s 5.83 percent and 3.05 percent gains.

Berger and BUA Cement bolstered the Industrial Index, the index appreciated by 95bps on 5.84 percent and 2 percent increase from Berger and BUA Cement. WAPCO, however, dragged on the index as it sheds 0.39 percent lost points.

The Exchange year-to-date return rose to 4.54 percent. See top gainers and losers below.

Top Gainers

Top Losers

Top Trades