By Chinwendu Obienyi
Amid demand and price appreciation, the financial services segment of Nigerian Exchange Limited (NGX boosted the total value of stocks traded on its platform up by 14.91 per cent at the close of trading on Tuesday.
Despite proceedings on NGX ending on a negative note, analysis of Tuesday’s market activities showed that trade turnover settled higher related to the previous trading session, with the value of transactions rising to N4.471 billion from N3.891 billion, representing an increase of 14.91 per cent.
Further analysis of the market performance showed that investors drove up activity in the shares of AccessCorp, Sterling Holdings Plc and Universal Insurance.
For instance, AccessCorp sold 49.35 million shares valued at N861.16 million, Sterling Holdings transacted 43.82 million shares worth N15.39 million while Universal Insurance traded 28.86 million shares valued at N68.97 million.
Also, investors’ appetite for stocks grew as 29 stocks appreciated in value while 24 others depreciated. Guinness topped the gainers’ chart with 10 per cent to close at N60.50 per share. Glaxosmithkline was next with 9.74 per cent to close at N10.74, Chellaram increased by 9.73 per cent to close at N3.72, TIP garnered 9.72 per cent to close at 0.79 kobo while Universal Insurance gained 9.09 per cent to close at 0.24 kobo.
On the flipside, NSLTECH topped the losers’ chart with 10 per cent to close at 0.27 kobo per share. NNFM fell by 9.89 per cent to close at N12.30, John Holt dropped by 9.52 per cent to close at N1.33, Tantalizer lost 8.33 per cent to close at 0.33 kobo while Mutual Benefits declined by 7.69 per cent to close at 0.48 kobo.
Declining further, the total volume of stocks traded fell to 317.81 million shares as against 334.33 million shares traded on resumption of activities on Monday. Also, the NGX All Share Index fell by 0.04 per cent to close at 65,309.65 points due to sell-offs in Geregu, Wapco and Dangote Sugar.
Consequently, the market’s year-to-date (YTD) return dropped to 27.43 per cent while market capitalization decreased by N15 billion to close at N35.540 trillion from the opening figure of N35.555 trillion.
