By Bamidele Famoofo
WorldStage– Investors wealth increased by N917 billion at the close of trading on the Nigerian bourse on Tuesday.
Without doubt, the Nigerian equities market is the best rewarding for investors globally as at Tuesday with a year-to-date returns of 61.71 percent.
The Nigerian equities market rebounded on Tuesday, with the NGX All-Share Index gaining 0.57 percent to settle at 251,635.42 points while market capitalisation closed at N161.28 trillion.
Market breadth was negative at 0.8x, as 33 decliners led by UNILEVER, TRANSEXPR, SOVRENINS, MCNICHOLS, and AUSTINLAZ outpaced 26 advancers, with FTNCOCOA, ZICHIS, SKYAVN, CAVERTON, and JAPAULGOLD recording the most notable losses. Sectoral performance was mixed, as Industrial (+2.27%), Banking (+0.98%), and Oil & Gas (+0.11%) all closed in positive territory, while Insurance (-1.64%) and Consumer Goods (-0.93%) weighed on the index and the Commodity sector ended flat. Trading activity weakened across the board, with volume, turnover, and deal count declining 12.06 percent, 13.22 percent, and 25.90 percent to 703.95 million shares, N32.15 billion, and 64,539 transactions respectively.
Heading into Wednesday’s session, the market is expected to sustain its bullish momentum as investors continue to reposition their portfolios, underpinned by the broadly positive sentiment currently surrounding the Nigerian equities market.
