The Nigerian equities market rose further on Tuesday as the All-Share Index traded up by 0.52 per cent to close at 38,418.04 points, amid buying interest in blue chip stocks.
The market capitalisation also advanced to close at N20.03tn, as investors gained N103.23bn at the close of the day’s trading.
While the market witnessed more of bargain hunting, 28 stocks appreciated relative to 10 stocks that depreciated. The year-to-date loss of the ASI moderated to 4.60 per cent.
Bellwether stocks such as SEPLAT Energy, Lafarge Africa, Zenith Bank, Access Bank and Flour Mills of Nigeria were the toast of investors, as their share prices rose by 7.14 per cent, 1.43 per cent, 2.90 per cent, 5.14 per cent and 1.19 per cent respectively.
Sectoral performance was positive, as four of the five indices tracked closed in the green zone.
The banking, consumer goods, oil and gas and industrial indices rose by 3.34 per cent, 0.07 per cent, 4.90 per cent and 0.08 per cent respectively, while the insurance index fell by 0.31 per cent.
Trading activity was positive as total volume and value of stock traded rose. The total volume of stocks appreciated marginally by 2.23 per cent to 288.92 million units valued at N2.42bn in 4,540 deals.
