The Nigerian Stock Exchange (NGX) experienced a rebound on Tuesday, with market capitalisation rising by N20 billion. At the close of trading, the All-Share Index increased by 32.64 points, or 0.03%, to settle at 109,730.47 points, while the market capitalisation climbed to N69.031 trillion, up from N69.011 trillion recorded on Monday.
The positive performance was driven by gains in the consumer goods and insurance sectors, as the Consumer Goods Index rose by 2.5%, and the Insurance Index appreciated by 1.41%.
Strong Performances from Nestle Nigeria, Tripple Gee, and Regency Alliance Insurance
Nestle Nigeria Plc led the gainers’ chart, with a 10% surge in its share price, closing at N1,464.10 per share. It was closely followed by Tripple Gee and Company Plc, which also saw a 10% increase to close at N2.20, and Regency Alliance Insurance Plc, which rose by 10% to settle at N0.66.
Other notable gainers included Tantalizers Plc, which appreciated by 9.88% to N2.78, Multiverse Mining and Exploration Plc, which gained 9.60% to close at N9.70, and John Holt Plc, which advanced by 9.42% to N7.55.
Top Losers: Berger Paints and Mutual Benefits Assurance
On the downside, Berger Paints Nigeria Plc saw the largest drop, with a 9.98% decline, closing at N21.20 per share. Mutual Benefits Assurance Plc followed with a 9.80% drop to N0.92, while Associated Bus Company Plc fell by 9.77% to N2.40.
Other notable losers included Aradel Holdings Plc, which shed 8.55% to close at N460.00, Caverton Offshore Support Group Plc, which dropped by 7.09% to N3.80, and Meyer Plc, which depreciated by 6.74%, ending the day at N9.00.
Fidelity Bank Leads Trading Volume
In terms of trading volume, Fidelity Bank Plc recorded the highest volume, with 60.2 million shares traded, followed by United Bank for Africa Plc with 36.4 million shares, Custodian Investment Plc with 35.6 million shares, and Tantalizers Plc with 27.6 million shares.
Sectoral Performance and Market Outlook
Sectoral performance was mixed: the Top 30 Index rose by 0.3%, the Main Board Index gained 0.08%, and the Industrial Index advanced by 0.03%. However, the Premium Index saw a slight decline of 0.07%.
Despite the mixed sectoral performance, the broader market has posted positive returns. Over the past week, the market has gained 0.89%, while the four-week gain stands at 5.27%. Year-to-date, the market has returned 6.61%.
Market Trends
The Nigerian Stock Exchange started the new trading week with a N8 billion decline in market value, despite improvements in trading activity, highlighting the volatility and the fluctuations that characterize the market.
