NGX-ASI up 0.46% on renewed bargains

Nigeria’s equities market saw a 0.46 percent increase on Tuesday, gaining N315 billion following strategic bargain-hunting in select stocks such as Oando Plc, Beta Glass, Chellaram, Transcorp, and Caverton. The market’s year-to-date return has now risen to 5.67 percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and the market capitalisation closed on a positive note for the first time this week, rising from 108,261.47 points and N68.042 trillion to 108,762.6 points and N68.357 trillion.

Among the top gainers, Oando surged from N45 to N49.50, adding N4.50, or 10 percent. Chellaram climbed from N10.40 to N11.44, an increase of N1.04, or 10 percent. Transcorp gained N4.20, moving from N42.05 to N46.25, representing a 9.99 percent rise.

Beta Glass rose from N176.70 to N194.30, adding N17.60, or 9.96 percent, while Caverton saw a rise from N3.35 to N3.68, gaining 33 kobo, or 9.85 percent.

Other actively traded stocks included Tantalizers, Access Holdings, GTCO, Fidelity Bank, and Nigerian Breweries.

In total, 498,480,437 shares were traded in 14,916 deals, valued at N10.781 billion.