Investors gained N510 billion at the end of the Tuesday’s session at the Nigerian Stock Market buoyed by investor sentiments that sent the market to a its highest level ever.
The All-Share Index of Nigerian Exchange Limited (NGX) had risen by 0.51 percent to 66,490.34 points from 66,151.38 the previous day, surpassing the highest value of 66,371.20 recorded on the Exchange on March 5, 2008 just before the 2008 capital market meltdown set in.
The performance was, in part, attributed to a wave in banking stocks as investors strategically positioned themselves, taking advantage of the recent record earnings posted by banks. The banking sub-sector rose by 1.63 percent, followed by the consumer goods sector with a 0.99 percent increase, while the industrial goods sector saw a 0.21 percent increase.
At the close of business, market capitalisation recorded an increase of 0.51 percent to settle at N39.69 trillion from N36.21 trillion recorded on Monday.
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