Total Energies, Julius Berger, others push NGX-ASI higher by 0.49%

Nigeria’s equities market on Tuesday recorded its second positive close this week, rallying by 0.49 percent or N272 billion as investors bought mostly the shares of Total Energies, Julius Berger and other major advancers that pushed the market higher.

Stock investors have been raising bet in the market, in show of optimism following Nigeria’s positive second quarter (Q2) GDP report released on Monday by the National Bureau of Statistics (NBS).

The Q2’24 GDP report indicated that the Nigerian economy expanded by 3.19 percent year-on-year (YoY) as against 2.51 percent it was in Q2’23 and 2.98 percent recorded in Q1’24.

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At the close of trading, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation appreciated from preceding trading day’s lows of 96,037.28 points and N55.165 trillion respectively to 96,510.13 points and N55.437trillion.

Total Energies rallied most, from N563 to N619.30, adding N56.30 or 10 percent. It was followed by that of Julius Berger which increased from N130 to N143, adding N13 or 10 percent.

Neimeth also made the league of top advanced after its share price rose from N2 to N2.20, up by 20 kobo or 10 percent. John Holt also increased from preceding day’s low of N2.80 to N3.08, adding 28 kobo or 10 percent, while SFS REIT moved from N122.65 to N134.90, adding N12.25 or 9.99 percent.

Investors traded mostly the shares of Veritas Kapital Assurance, Access Holdings, Universal Insurance, FBN Holdings and FCMB Group. In 8,493 deals, investors exchanged 443,156,566 shares worth N5.635billion.