The equities market witnessed a strong bargain on Tuesday, halting a five-session slide after investors traded 557.615 million stocks worth N3.715bn in 3,663 deals.
The market capitalisation of the listed equities rose by N50bn or 0.43 per cent from N11.603tn to N11.653tn, while the Nigerian Stock Exchange All-Share Index gained 146.83 basis points or 0.43 per cent from 34,141.81 basis points to 34,298.64 basis points.
Tuesday’s gains were spread across the sectors as all market indicators, with the exception of the NSE Alternative Securities Market Index which was unchanged, closed higher.
For instance, the NSE 30 Index, which tracks the performance of the 30 most capitalised stocks on the Exchange, rose by 0.35 per cent from 1,567.62 basis points to 1,573.05 basis points.
In the same vein, the NSE Banking Index gained 0.37 per cent to close at 394.63 basis points, up from 393.16 basis points.
The insurance carriers, brokers and services sub-sector led the activity chart, accounting for 42.9 per cent of total turnover (volume) traded.
In the sub-sector, 238.109 million shares valued at N129.9m were traded in 110 deals with Wapic Insurance Plc driving the volume traded.
The most traded equities for the day are Wapic Insurance, United Bank for Africa Plc, Access Bank Plc, Learn Africa Plc and FBN Holdings Plc.
Twenty-six stocks recorded price appreciation on Tuesday, while 16 others recorded price depreciation.
Vono Products Plc topped the gainers, rising by 9.70 per cent or 13 kobo to close at N1.47 per share; followed by Unity Bank Plc, which gained 5.42 per cent or 13 kobo to close at N2.53 per share.
Costain (West Africa) was up by 4.88 per cent or four kobo to close at 86 kobo per share, while Union Bank of Nigeria Plc appreciated by 4.58 per cent or 46 kobo to close at N10.51 per share.
On the other hand, May & Baker Nigeria Plc led the losers, shedding 4.84 per cent or nine kobo to close at N1.77 per share.
It was followed by Livestock Feeds Plc and NEM Insurance Plc, which were down by 3.75 per cent and 3.37 per cent to close at N2.31 and 86 kobo per share.