Investors profit N130bn amid moderation in trade volume, deals

Despite investors making N130 billion at the end of trading, trade on the Nigerian Exchange Limited calmed on Tuesday.

For the second day in a row, there was positive trade on the local exchange as the market capitalization and the All-Share Index both increased by 0.33 percent to close at N39.348tn and 71,907.26 basis points, respectively. The ASI’s year-to-date gain increased to 40.30 percent.

The number of deals and the volume of traded equities fell by 7.32 percent and 14.86 percent, respectively, to close at 6,498 deals and 319.56 million units, despite the market’s ongoing upward trajectory. In the meantime, from N3.85 billion on Monday to N5.88 billion today, the total transacted value increased by 52.54%.
The sectorial performance revealed a bearish trend as three out of five stocks closed in the red zone. NGX Insurance, NGX Oil/Gas and NGX Industrial Goods indexes declined by 0.49 per cent, 1.03 per cent and 0.01 per cent, respectively.

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Nonetheless, the Consumer Goods and Banking indices both saw gains, rising by 0.01 and 0.67 percent, respectively.
At the end of the day, the exchange showed that there were 25 losers and 24 winners.

Infinity Trust Mortgage Bank, SCOA, Daar Communications, Royal Exchange, and Neimeth were among the stocks that caught investors’ attention on Tuesday. These companies’ share prices saw notable increases of 9.79%, 9.46%, 8.82%, 8.47%, and 7.89%, respectively.
Tier-1 banking stocks, such as Zenith Bank, AccessCorp, and Guaranty Trust Holding Company Plc, were the main drivers of the market. The most traded stocks were those owned by FCMB.

By the end of trading, Julius Berger was the most actively traded investment in terms of volume and value, having moved 42.54 million units for N1.46 billion over 42