By Bamidele Famoofo
WorldStage– The Nigerian equities market rebounded strongly on Tuesday, with the NGX All-Share Index surging 2.23 percent to settle at
228,579.80 points, pushing the year-to-date return to +46.89 percent and adding ₦3.2 trillion to market capitalization, which closed at ₦147.17 trillion.
Market breadth was broadly negative at 0.975x, as 40 losers led by UBA, TRANSEXPR, NASCON, JAIZBANK, and BERGER narrowly outpaced 39 gainers, with FTNCOCOA, IMG, WAPCO, AUSTINLAZ, and ARADEL posting the most notable gains.
Sectoral performance was mixed, as Industrial (+4.86%), Oil & Gas (+4.66%), Commodity (+4.11%), and Consumer Goods (+2.74%) all closed in positive territory, while Banking (-1.38%) and Insurance (-0.20%) weighed on the index.
Trading activity was equally mixed, as volume and turnover climbed 41.50 percent and 59.67 percent to 959.63 million shares and ₦70.47 billion respectively, while deal count edged down 9.65 percent to 74,848 transactions. Heading into Wednesday’s session, the market is expected to sustain its bullish momentum, underpinned by positive investor sentiment and the added boost of the extended trading period.
