Lagos: The domestic bourse experienced a significant rebound on Tuesday, achieving a profit of N1.086 trillion. This recovery was driven by gains in large and medium capitalised stocks.
According to News Agency of Nigeria, renewed investor interest in companies such as John Holt, Consolidated Hallmark Holdings, Legend Interest, Airtel Africa, and Zichis Agro Allied Industries, along with 32 other advancing stocks, propelled the market forward. The market capitalisation, which began the day at N127.750 trillion, increased by N1.086 trillion or 0.85 per cent, closing at N128.836 trillion.
The All-Share Index also saw a rise of 0.85 per cent or 1,691.86 points, settling at 200,705.88 points compared to 199,014.02 points recorded on Monday. Consequently, the Year-to-Date (YTD) return climbed to 28.98 per cent, with the market breadth closing positive with 37 gainers and 23 losers.
Airtel Africa, John Holt, Legend Internet, and Consolidated Hallmark Holdings led the gainers’ chart, each increasing by 10 per cent to settle at N2,497, N14.95, N6.60, and N4.95 per share, respectively. Zichis Agro Allied Industries also saw a 9.97 per cent increase, closing at N10.37 per share.
In contrast, NPF Micro-finance Bank topped the losers’ chart with a 6.29 per cent decline, finishing at N6.56. Royal Exchange followed with a 5.32 per cent drop, ending at N1.78. Computer Warehouse Group decreased by 4.82 per cent to N20.75 per share, while Veritas Kapital and UPDC fell by 4.21 per cent and 3.88 per cent, closing at N2.05 and N4.95 per share, respectively.
Market activity showed an increase in both volume and value, though there was a decline in the number of deals. A total of 1.3 million shares worth N65.3 billion were traded across 89,949 transactions, compared to the previous session’s 848.8 million shares valued at N53.3 billion exchanged in 139,458 transactions.
Access Corporation recorded the highest trade volume, with 266.79 million shares accounting for 20.66 per cent of the day’s traded volume. Meanwhile, GTCP had the highest trade value, with transactions worth N19.39 billion, representing 29.68 per cent of the day’s total value.