The Nigerian stock market extended Monday’s gains as buying interest in SEPLAT (+3.3%), UBA (+7.9%) and DANGSUGAR (+10.0%) pushed the benchmark index higher. As a result, the All-Share index advanced by 0.5% to close at 98,383.04 points. Consequently, the month-to-date and year-to-date gains increased to +0.2% and +31.6%, respectively.
The total volume of trades improved by 52.5% to 559.61 million units, valued at NGN6.58 billion, and exchanged in 7,990 deals. ABBEYBDS was the most traded stock by volume at 277.53 million units, while SEPLAT was the most traded stock by value at NGN1.60 billion.
Performance across the sectors was broadly positive, as the Banking (+2.4%), Oil & Gas (+1.9%), Consumer Goods (+1.1%) and Insurance (+0.7%) indices advanced, while the Industrial Goods (-0.2%) index declined.
As measured by market breadth, market sentiment was positive (2.1x), as 27 tickers gained relative to 13 losers. DANGSUGAR (+10.0%) and NASCON (+9.9%) recorded the most significant gains of the day, while SOVRENINS (-9.5%) and UNIVINSURE (-8.3%) topped the losers’ list.
