The local bourse maintained its positive momentum during Tuesday's trading session, driven by fresh buying pressure directed at major telecommunications firms and selected financial equities. This renewed investor interest drove the primary market indicators up by 0.53 per cent.
As a result of widespread position-taking by market participants, the benchmark All-Share Index recorded significant gains, finishing the session at exactly 244,697.62 points. Similarly, the aggregate value of all listed stocks appreciated by N830 billion, pushing the total equities market capitalization to N156.94 trillion.
Investment experts linked the sustained positive movement to active portfolio realignment by institutional investors. These market actors are increasingly rotating capital into sturdy defensive equities to safeguard returns against ongoing macroeconomic shifts.
In contrast to the equities segment, the fixed-income market capitalization witnessed a slight decline of 0.06 per cent to wrap up at N56.74 trillion. However, market participants exhibited robust interest in alternative assets, pushing the Exchange Traded Products market capitalization up by 4.40 per cent to close at N103.00 billion.
A closer examination of the trading metrics indicated a competitive performance among advancing equities, with the telecommunications and financial sectors dominating the list of top performers. Telecommunications major Airtel Africa Plc stood at the top of the gainers' table, climbing by the maximum regulatory daily limit of 10.00 per cent to end the day at N4,021.20 per share. International Energy Insurance Plc followed as the second largest gainer, advancing by 9.90 per cent to finish the session at N8.77 per share.
The remaining positions among the top gainers were occupied by banking and insurance equities. Abbey Mortgage Bank Plc expanded by 9.76 per cent to close at N11.25 per share, while Infinity Trust Mortgage Bank Plc appreciated by 9.63 per cent to settle at N10.25 per share. First HoldCo Plc completed the top five list, rising by 8.49 per cent to conclude business at N69.00 per share. Financial analysts have urged retail investors to stick with equities possessing strong corporate fundamentals as the trading week continues.
0 Comments