Investors at the Nigerian Exchange Limited (NGX) recorded a N315 billion gain on Tuesday as the market rebounded, reversing losses from the previous two trading sessions.
The NGX market capitalization rose to N68.357 trillion from N68.042 trillion on Monday, reflecting a 0.46 percent increase. Similarly, the All-Share Index (ASI) gained 501.14 points to close at 108,762.61, up from 108,261.47 in the previous session.
The positive performance was driven by bargain-hunting in select equities, pushing the market breadth into positive territory with 41 gainers against 24 losers.
Leading the gainers’ chart, Chellaram and Oando Plc both appreciated by 10 percent, closing at N11.44 and N49.50 per share, respectively. Transcorp followed with a 9.99 percent gain to close at N46.25, while Beta Glass rose by 9.96 percent to end at N194.30. Caverton Offshore Support Group also climbed 9.85 percent to finish at N3.68 per share.
On the losers’ table, Haldane McCall Plc declined by 9.85 percent to close at N4.21 per share, while Academy Press fell 7.33 percent to N4.30. UPDC Real Estate Investment Trust shed 6.25 percent to close at N3.00, ABC Transport dropped 6.13 percent to N2.91, and NPF Microfinance Bank lost 5.14 percent to settle at N2.03 per share.
Trading volume rose as 498.48 million shares worth N10.78 billion were exchanged in 14,916 deals, compared to 414.57 million shares valued at N10.72 billion traded in 16,664 deals in the previous session.
Tantalizer led the activity chart with 57.80 million shares valued at N131.32 million. Access Corporation followed with 36.79 million shares worth N784.43 million, while Guaranty Trust Holding Company traded 31.84 million shares valued at N2.19 billion. Fidelity Bank exchanged 23.39 million shares valued at N470.49 million, and Nigerian Breweries recorded 26.03 million shares worth N1.08 billion.