The Nigerian Exchange on Tuesday sustained its positive momentum as investors’ appetite for insurance and banking stocks lifted the market with a gain of N254bn, extending the bullish run recorded in the previous session.
At the close of trading, the market capitalisation of listed equities rose to N88.5tn from N88.25tn recorded the previous day, reflecting the N254bn increase. The All-Share Index advanced by 401.36 points, or 0.29 per cent, to settle at 139,796.11 points.
Analysis of trading data showed that a total of 659,163,979 shares valued at N12.50bn were exchanged in 25,320 deals. This represented a 30 per cent decline in volume, turnover, and number of deals compared with Monday’s session.
Market breadth closed positive as 36 equities appreciated in value against 19 that declined, while 72 closed flats.