The Nigerian stock market on Tuesday sustained a bullish trend with a N203 billion gain.
This comes as the Nigerian Exchange Limited’s market capitalisation surged to N89.696 trillion on Tuesday from N89.493 trillion recorded on Monday, representing a 0.23 percent increase.
In the same vein, the All-Share Index (ASI) advanced by 0.23 percent, or 321.59 points, closing at 141,761.36 compared to 141,439.77 recorded at the previous session.
Analysis of NGX showed that the market activity was driven by demand for equities such as NCR Nigeria, Berger Paints, Beta Glass, Cadbury, and 23 other stocks.
However, at the end of the day, the market breadth closed negative, recording 34 losers against 27 gainers.
Non-banking stocks such as NCR Nigeria, Sky Shelter Fund, Berger Paints, Beta Glass, and Cadbury surged and led the gainers’ table on Tuesday.
Meanwhile, on the flipside, Legend Internet, Secure Electronic Technology, Cutix, and Deap Capital Management led the losers’ chart as their stocks recorded declines.
A further analysis showed that a total of 605.02 million shares valued at N12.89 billion were exchanged across 28,845 transactions on Tuesday; this is in contrast to 591.2 million shares worth N11.7 billion that were traded across 33,342 transactions.
Accordingly, transactions in the shares of FCMB topped the activity chart with 89.29 million shares valued at N980.8 million.