Nigerian Exchange Group (NGX), which had closed in the red on Monday, reversed the negative trend on Tuesday following buying interest in BUA Cement.
The market capitalisation rose by N19 billion or 0.09 per cent to N21.925 trillion from N21.906 trillion on Monday.
Additionally, the All-Share Index increased by 36.60 points or 0.09 per cent to 42,013.39 from 41,976.79 on Monday.
Therefore, the month-to-date loss was 0.1 per cent, while the year-to-date gain was 4.3 per cent.
Investors’ interest in recently depreciated stock prices in the industrial, consumer goods, and oil and gas sectors contributed to the positive outperformance.
Positive market performance was led by price appreciation in large and medium capitalised stocks such as BUA Cement, International Breweries, Oando, Dangote Sugar Refinery and Lasaco Assurance.
Although market indices grew, market breadth closed negative with 31 losers versus 10 gainers.
International Breweries led the gainers’ chart in percentage terms by 9.62 per cent to close at N5.70 per share.
Lasaco Assurance followed with an 8.33 per cent increase to close at N1.17, while Linkage Assurance gained 7.55 per cent to close at N57k per share.
Chams rose by 4.35 per cent to close at 24k, and Oando gained 4.09 per cent to close at N4.84 per share.
UACN, on the other hand, led the losers’ chart in percentage terms by 9.73 per cent to close at N10.20 per share.
FTN Cocoa processors slipped 8.70 per cent to close at 42k, while FBN Holdings slipped 6.98 per cent to close at N10 per share.
Unity Bank lost 6.90 per cent to close at 54k, while Consolidated Hallmark Insurance shed 6.67 per cent to close at 56k.
On the activity chart, United Bank for Africa topped the list with 52.58 million shares worth N446.724 million traded.
FBNH followed with 30.49 million shares worth N313.81 million, while Zenith Bank traded 29.89 million shares worth N747.64 million.
Transcorp transacted 14.08 million shares worth N14.44 million, while Chambers traded 15.46 million shares valued at N3.52 million.
Overall, trade volume dropped by 15.65 per cent to 318.98 million units valued at N3.28 billion in 5,492 transactions.
This compares with a turnover of 378.15 million shares worth 3.24 billion transacted in 6,384 deals on Monday.