The Nigerian Exchange reversed a three-day bearish run on Tuesday, as investors gained N917 billion on the back of a renewed bullish rally.
Market capitalisation rose by 0.57 per cent to N161.279 trillion, up from N160.362 trillion, while the All-Share Index advanced by 1,430.59 points to close at 251,635.42. Consequently, the Year-to-Date return strengthened to 61.71 per cent.
The rally was propelled by price appreciation in 27 equities, including FTN Cocoa Processors, Zichis Agro Allied Industries, Skyway Aviation Handling Company, Caverton Offshore Support Group, and JaPaul Gold.
Despite the positive performance, market breadth closed negative, with 33 losers outnumbering 27 gainers. Unilever Nigeria Plc led the decliners, shedding 10 per cent to close at N153 per share. Trans-Nationwide Express Plc followed with a loss of 9.92 per cent, while Sovereign Trust Insurance Plc dipped by 9.81 per cent.
On the gainers’ chart, FTN Cocoa Processors Plc appreciated by 10 per cent to N9.79 per share. Zichis Agro-Allied Industries rose by 9.97 per cent to N29.13, and Skyway Aviation Handling Company gained 9.79 per cent to close at N156.95.
Activity levels, however, declined across the board. A total of 703.95 million shares worth N32.15 billion were exchanged in 64,539 transactions, compared to the previous session’s 800.46 million shares valued at N37.05 billion in 87,096 deals.
Access Holdings Plc led by volume, accounting for 12.56 per cent of total turnover with 88.41 million shares. Zenith Bank Plc topped by value, contributing 12.42 per cent of the day’s traded value at N3.99 billion.
