The Nigerian Exchange Limited equities market continued its positive trend on Tuesday despite the economic volatility in Nigeria, with the benchmark indices rising by 0.33 percent to settle at N39.349 trillion, up from N39.219 trillion the day before.
In particular, the market capitalization increased by N130 billion, or 0.33 percent.
The All-Share Index increased by 327.35 points, or 0.33 percent, from 71,669.91 to 71,907.26.
The growth was driven by persistent purchasing interest in Tier-one bank equities, including Guaranty Trust Company (GTCo) Access Holdings, and MTN Nigeria.
The Year-to-Date (YTD) return increased to 40.30 percent as a consequence.
Among the top stock traders, GTCo was the most traded stock by value with N84.92 billion units, while Julius Berger led by volume with N42.54 million, valued at N14.73 billion.
On the gainer’s table, Infinity closed at N2.13 per share, up 9.79 percent from the previous close, followed by SCOA Nigeria Plc, which gained 9.45 percent to close at N1.62. Daar Communication closed at N0.37 per share, up 8.82 percent from Royal Exchange, up 8.47 percent to close at N0.64, and up 7.89 percent from Neimeth to close at N2.05 per share.
However, in terms of percentage terms, Guinea Insurance led the losers’ chart, closing at N0.27 per share after losing 10%. Conoil followed suit, losing 9.83 percent to close at N78.00 per share, Juli lost 9.72% to close at N0.65, Omatek closed at 8.75%, showing a loss of N0.73, and Thomaswy lost 8.13 percent to close at N3.05.
According to reports, Nigeria’s inflation increased to 27.33 percent in October, which led to higher costs for products and services for Nigerians.
