Investors Pocket ₦130 Billion Amidst Slower Trade Volume and Deals

Trading activities took a breather on the Nigerian Exchange Limited on Tuesday, but investors saw gains of ₦130bn as the market closed on a positive note.

The All-Share Index and market capitalization both saw a 0.33% increase, reaching 71,907.26 basis points and ₦39.348tn, marking another day of positive trading with a year-to-date gain of 40.30%.

Despite the positive trend, the volume of traded stocks and the number of deals experienced a decline of 14.86% and 7.32%, closing at 6,498 deals and 319.56 million units. On a positive note, the total traded value for the day surged by 52.54% to ₦5.88bn from ₦3.85bn on Monday.

While the Banking and Consumer Goods indices showed positive movements, increasing by 0.67% and 0.01%, respectively, the market recorded more losers (25) than gainers (24) by the end of the day.

Investors showed interest in stocks such as Infinity Trust Mortgage Bank, SCOA, Daar Communications, Royal Exchange, and Neimeth, with gains ranging from 7.89% to 9.79%.

Major banking stocks, including Zenith Bank, AccessCorp, and Guaranty Trust Holding Company Plc, played a significant role in driving the market. FCMB’s stocks also stood out as some of the most traded.

Julius Berger took the spotlight, emerging as the most actively traded security in terms of both volume and value, with 42.54 million units worth ₦1.46bn, across 42 transactions.