Olufemi Adeyemi 


The Nigerian Stock Exchange maintained its upward trend on Tuesday, with investors realizing a gain of N45 billion. The index increased by 0.08 percent, finishing at 96,873.74, while the market capitalization rose to N55.65 trillion. 

Despite the overall positive sentiment among investors, the market breadth ended on a negative note, with 29 stocks advancing and 30 experiencing declines.

A total of 473 million shares were traded, valued at N10.41 billion across 12,532 transactions, reflecting a five percent decrease in volume, a six percent drop in turnover, and a five percent reduction in the number of deals compared to the previous trading day. Leading the gainers were Industrial & Medical Gases, C&I Leasing, Guinea Insurance, and Eterna, each rising by 10 percent. 

Conversely, RT Briscoe led the decliners, falling by 10 percent to N2.88 per share. Abbey Mortgage Bank, Secure Electronic Technology, and McNichols also saw significant losses of 9.96 percent, 9.72 percent, and 9.68 percent, respectively. 

In terms of trading activity, Access Holdings was the most active, trading 106 million shares, followed by Oando with 46.9 million shares, Prestige Assurance Company with 31.7 million shares, and United Bank for Africa with 20.2 million shares. 

The market's performance indicated a cautious optimism among investors, with gains moderated by profit-taking. Despite the mixed results, the ongoing bullish trend points to sustained investor confidence in the market. 

The first trading day of September began with a N124 billion gain, as the All-Share Index rose by 0.22 percent to 96,793.95 points, and market capitalization reached N55.60 trillion.