The Nigerian stock market continued its upward trajectory on Tuesday, witnessing a significant increase of N203 billion.
As a result, the market capitalization of the Nigerian Exchange Limited rose to N89.696 trillion from N89.493 trillion recorded on Monday, marking a 0.23 percent escalation.
In alignment with this trend, the All-Share Index (ASI) experienced an uptick of 0.23 percent, equating to 321.59 points, concluding at 141,761.36 in comparison to 141,439.77 from the prior session.
Market analysis from NGX indicated that trading activity was primarily driven by heightened demand for shares in companies such as NCR Nigeria, Berger Paints, Beta Glass, Cadbury, alongside 23 other stocks.
However, despite the overall gains, market breadth reflected a negative outcome, with 34 decliners registered against 27 advancers.
Non-financial stocks such as NCR Nigeria, Sky Shelter Fund, Berger Paints, Beta Glass, and Cadbury emerged as the frontrunners on the gainers’ list for Tuesday.
Conversely, stocks from Legend Internet, Secure Electronic Technology, Cutix, and Deap Capital Management topped the decliners’ roster, experiencing notable downturns.
Further examination revealed that a total of 605.02 million shares, valued at N12.89 billion, changed hands over 28,845 transactions on Tuesday; this contrasts with the 591.2 million shares worth N11.7 billion traded over 33,342 transactions previously.
Notably, trading in FCMB shares dominated the activity metrics, with 89.29 million shares traded valued at N980.8 million.
