NGX Market Update: Investors Gain N20bn as Trading Rebounds

The Nigerian Exchange Limited (NGX) saw a positive turn in trading on Tuesday, with investors gaining N20 billion in market capitalization.

The All-Share Index edged up by 32.64 points (0.03%), closing at 109,730.47 points, while market capitalization rose to N69.031 trillion from N69.011 trillion on Monday.

The day’s performance was driven by strong buying interest in the consumer goods and insurance sectors, with the Consumer Goods Index rising 2.5% and the Insurance Index gaining 1.41%. Notably, Nestle Nigeria Plc led the gainers’ chart with a 10% appreciation, closing at N1,464.10 per share, followed by Tripple Gee and Company Plc and Regency Alliance Insurance Plc, both gaining 10%.

Trading volume increased by 2%, with 497.06 million shares exchanged, valued at N13.21 billion, across 18,795 deals. However, the number of deals declined by 24% compared to the previous session.

On the losing side, Berger Paints Nigeria Plc recorded the highest decline, dropping 9.98% to close at N21.20 per share, while Mutual Benefits Assurance Plc fell 9.80% to N0.92.

Despite mixed sectoral performance, the market has maintained a one-week gain of 0.89%, a four-week gain of 5.27%, and a year-to-date return of 6.61%.