Investors gained approximately N297 billion on the Nigerian Exchange (NGX) on Tuesday, September 22, as sustained buying lifted market capitalisation to N162.68 trillion and pushed the All-Share Index further above the 250,000-point mark.
Equity market capitalisation increased from N162.385 trillion on Monday to N162.683 trillion, representing a one-day increase of approximately N297.2 billion.
The NGX All-Share Index advanced 0.18 percent to 250,614.66 points, from 250,156.80 points in the previous session, extending the market’s positive start to the week.
Trading activity strengthened considerably as investors exchanged 837.26 million shares worth N48.57 billion in 52,126 deals.
Compared with Monday’s 574.19 million shares valued at N38.06 billion, trading volume increased by approximately 45.8 percent, while transaction value rose about 27.6 percent.
The number of deals, however, declined by approximately 24.1 percent from 68,655, indicating that substantially more shares changed hands through fewer transactions.
Fidelity Bank Plc emerged as the most actively traded stock by volume, recording 165.43 million shares worth N3.29 billion.
The lender alone accounted for approximately 19.8 percent of the 837.26 million shares traded across the equities market.
Zenith Bank Plc followed with 105.65 million shares worth N13.73 billion, making it the largest contributor to market turnover by value among the stocks reported.
Zenith Bank’s transaction value represented approximately 28.3 percent of the N48.57 billion exchanged across the market.
Chams Holding Company recorded 71.83 million shares worth N240.58 million, while Access Holdings traded 62.43 million shares valued at N1.86 billion.
Sterling Financial Holdings completed the five most actively traded stocks with 55.56 million shares worth N421.17 million.
Together, Fidelity Bank, Zenith Bank, Chams, Access Holdings and Sterling Financial Holdings accounted for approximately 460.90 million shares, equivalent to about 55 percent of total market volume.
Price action was mixed despite the advance in the benchmark index.
Sovereign Trust Insurance led the gainers reported for the session, rising 9.95 percent from N2.01 to N2.21.
The advance reversed Monday’s 8.64 percent decline and pushed the insurer slightly above its N2.20 closing price at the end of the previous week.
Critical Minerals Financing Corporation gained another 9.82 percent to N2.46 after advancing 9.80 percent on Monday.
Neimeth International Pharmaceuticals appreciated 8.90 percent from N7.30 to N7.95, while Cadbury Nigeria rose 8.29 percent to N60.10.
Fortis Global Insurance gained 7.73 percent to close at N1.95.
On the losing side, Multiverse Mining and Exploration declined 9.86 percent from N21.30 to N19.20.
Haldane McCall fell 9.39 percent to N2.99, extending its decline after losing 8.33 percent in the previous session.
Champion Breweries dropped 8.68 percent to N10, Mutual Benefits Assurance declined 8.38 percent to N3.50, while AXA Mansard Insurance lost 6.67 percent to close at N11.20.
Activity among the exchange-traded funds reported for the session was also positive.
NEWGOLD increased from N89,500 to N96,999, while SIAMLETF40 rose from N3,194.40 to N3,513.65.
STANBICETF30 advanced from N1,397.55 to N1,537.30, MERVALUE increased from N137.35 to N147.95, and MERGROWTH appreciated from N123 to N127.
The market’s Tuesday performance extended the positive momentum recorded on Monday, with rising transaction value and a sharp increase in share volume accompanying the N297 billion expansion in equity market capitalisation.
