The Nigerian Exchange Limited (NGX) equities market extended its positive run yesterday, with market capitalisation rising by N651.8 billion amid renewed buying interest in NGX Group Plc and selected banking stocks.
Market capitalisation increased from N157.747 trillion on Monday to N158.399 trillion at the close of trading on Tuesday, representing a 0.41 per cent gain.
The benchmark NGX All-Share Index (ASI) also rose by 1,005.27 points, from 243,299.24 to 244,304.51 points.
NGX Group led the gainers’ chart, rising 9.95 per cent to close at N179. Aradel Holdings followed with a 9.62 per cent gain to N1,550, while Sovereign Trust Insurance advanced 9.50 per cent to N1.96. Mecure Industries and International Breweries gained 9.09 per cent and 8.50 per cent to close at N4.80 and N10.85, respectively.
Other notable gainers included Nigerian Breweries, which rose 4.43 per cent to N73.10, and Oando, up 3.92 per cent to N34.50.
Banking stocks also recorded gains, with Zenith Bank advancing 1.67 per cent to N128, Wema Bank gaining 2.75 per cent to N29.90 and AccessCorp rising 1.59 per cent to N28.70.
Market breadth remained positive, with 34 equities recording gains compared with 26 decliners.
Ecobank Transnational Incorporated (ETI) was the biggest loser, shedding 10 per cent to close at N66.60, followed by Transnational Express, down 9.93 per cent to N2.45, and AVA Capital, which fell 9.90 per cent to N4.55.
Sectoral performance was mixed. The Banking Index, Consumer Goods Index and Oil and Gas Index gained, while the Insurance and Industrial indices declined.