NSE Rises Slightly by 0.14% on Tuesday

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  • NSE Rises Slightly by 0.14% on Tuesday

The Nigerian Stock Exchange (NSE) rose slightly on Tuesday to sustain Monday’s rally.

The All-Share Index climbed by 43.72 points or 0.14 per cent on Tuesday to close at 32,173.66, up from 32,129.94 it closes on Monday.

Market capitalisation of listed equities gained N16 billion from N11.982 trillion to N11.998 trillion.

Analysts at Cordros Capital advised investors to tread carefully due to the sensitive political landscape.

“Amidst the still sensitive political landscape, we still hold the view that the blend of compelling valuation story, together with positive macroeconomic picture, leaves scope for market recovery in the medium-to-long term.

“However, we guide investors to tread a cautious trading path in the short term,” they said.

Activity level surged on Tuesday as investors bought and sold 400.87 million shares valued at N3.46 billion in 3,885 transactions. Higher than the 228.48 million shares valued at N2.61 billion traded in 3,544 deals on Monday.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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