The Nigerian Exchange Limited (NGX) recorded bullish activity on Tuesday, with a total of 1.03 billion shares valued at ₦22.9 billion exchanged in 38,932 deals, marking a notable increase from Monday’s 811.09 million shares worth ₦19.47 billion in 35,963 transactions.
AIICO Insurance led the day’s trading, with 97.10 million shares worth ₦255.3 million exchanged. It was followed by Universal Insurance, which traded 87.26 million shares valued at ₦71 million, while Linkage Assurance saw 64.03 million shares traded for ₦101.34 million. Fidelity Bank and Veritas Kapital Assurance also featured prominently, with 59.21 million shares at ₦1.25 billion and 50.18 million shares worth ₦83.17 million, respectively.
The market closed on a strong note, with investors gaining ₦459 billion in value. The market capitalisation rose by 0.50%, reaching ₦91.608 trillion, up from ₦91.149 trillion on Monday.
Similarly, the All-Share Index (ASI) increased by 724.59 points or 0.50%, closing at 144,796.37 compared to the previous day’s 144,071.78.
The positive sentiment was buoyed by increased investor appetite across several equities, with 53 stocks recording gains against 22 losers. Top gainers included Mutual Benefits Assurance, Sunu Assurances, and AIICO Insurance. Mutual Benefits Assurance rose by 10% to close at ₦2.20, while Neimeth International Pharmaceuticals climbed to ₦7.70, and Enamelware gained 10% to settle at ₦29.70 per share.
On the flip side, Livingtrust Mortgage Bank led the losers’ chart with a 9.86% decline to ₦5.94, followed by UPDCREIT, which lost 9.63% to close at ₦8.45. Academy Press, Mecure, and Cadbury Nigeria also posted losses of 9.60%, 9.20%, and 7.35%, respectively.
