The ulls wins as Nigerian stock exchange gains 1.56% on Tuesday
- Today, bullish sentiment persisted on the Nigerian stock market. Gains in MTNN (+9.16%), ARADEL (+7.58%) alongside GTCO (+2.24%) kept the market in the green resulting in a 1.56% gain to settle at 108,361.10 points. Consequently, the year-to-date (YTD) return rose to 5.28%, while market capitalisation gained N1.04tn to close at N68.11tn.
- Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 26.59%. A total of 475.46m shares valued at N13.90bn were exchanged in 17,575 deals. ACCESSCORP (+0.95%) led the volume chart with 103.92m units traded while GTCO (+2.44%) led the value chart with deals worth N2.42bn.
- Market breadth closed positive at a 1.21-to-1 ratio with advancing issues outnumbering the declining ones. NESTLE (+10.00%) topped the leader’s table while GUINEAINS (-8.70%) led the laggard’s log.
NASD SUMMARY
- Today, the NASD OTC market witnessed a slight decline in activity, with daily NSI and market capitalisation shedding 20bps. Trade volume however increased by 12.683% to 2.546 units and total value traded edged higher by 3.874% to N34.68mn signalling increased participation from investors.
- The 320% increase in trade count suggests strong liquidity and sentiment in the market.
