NGX regains as investors hit N2bn

Oluwanifemi Ojo
Oluwanifemi Ojo

The Nigerian Exchange Limited saw an increase on Tuesday, as investors gained N2 billion.

At the end of trading, the All-Share Index rose by 11.54 base points to 51, 138.92, resulting in a slight increase in year-to-date returns to 0.22 per cent, The Punch reported.

Trade turnover strengthened compared to the previous session, as the volume and value of transactions surged by 703.18 per cent and 220.17 per cent, respectively.

Investors’ sentiment also improved, with 21 gainers and 21 decliners.

On the NGX, 1.82bn units of shares worth N5.02bn were traded in 4,669 deals, with Transcorp leading the volume and value chart by trading 1.60bn units in deals worth N3.09bn.

The shares of Nigerian Breweries (+1.10 per cent) and GTCO (+0.60 per cent) also saw increased buying interests.

According to the report,  insurance, banking, and industrial goods indices saw declines, with sell-offs in Linkage Assurance (-8.33 per cent), Zenith Bank (-0.91 per cent), and Wapco (-0.21 per cent) leading to a largely bearish performance across indices.

The Nigerian Exchange Limited is the principal securities exchange of Nigeria, located in Lagos. Formerly known as the Nigerian Stock Exchange, it was established in 1960 as the Lagos Stock Exchange, but the name was changed to reflect the country’s changing political environment.

The NGX operates a fully automated trading platform for equities, bonds, and other securities, and it is regulated by the Securities and Exchange Commission of Nigeria.

The NGX is a major contributor to the Nigerian economy and serves as a platform for raising capital, promoting investment, and fostering economic growth in the country.

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