Equities trading on the Nigerian Exchange Limited (NGX) closed positive (+0.23percent) on Tuesday as more investors bought stocks like Beta Glass, Berger Paints, Cadbury and NCR.
“Market sentiment remains cautious, with investors gradually positioning for long-term value plays, suggesting only a mild recovery in the near-term,” Futureview research analysts said in their August 25 stock recommendation.
The market’s year-to-date (YtD) return increased to 37.73 percent. This week, the stock market has risen by 0.54 percent, while the return month-to-date (MtD) stood at 1.36 percent.
Read also: NGX Group CEO highlights opportunities for Nigeria–Brazil investment flows
At the close of trading on Tuesday, Beta Glass led the league of market’s major gainers after its share price rose from N449.35 to N486, adding N36.65 or 8.16 percent.
Cadbury another major gainer rose from N57.85 to N62.50, after adding N4.65 or 8.04 percent. Also, Berger Paints made the top advancers list after rising from N32 to N34.90, adding N2.90 or 9.06 percent, while NCR increased by 10 percent or N1.05, from N10.50 to N11.55.
The Nigerian Exchange Limited (NGX) All Share Index (ASI) and equities market capitalisation increased further from preceding trading day’s 141,439.77 points and N89.493 trillion respectively to 141,761.36 points and N 89.696 trillion.
In 28,845 deals, securities traders exchanged 605,017,150 shares valued at N12.895billion. FCMB, Veritas Kapital, AIICO, Mutual Benefits Assurance, and Secure Electronic Technology were most traded stocks.
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