Nigerian Stock Exchange equities continue on positive trend with 1.20% gain

The equities market on the floor of the Nigerian Stock Exchange on Tuesday recorded its seventh consecutive gain, following buying interests in DANGOTE CEMENT PLC, UNITED BANK FOR AFRICA PLC and ZENITH BANK PLC stocks.

The All-Share Index as well as the Market Capitalization advanced by 1.20%.

The Market Capitalisation advanced from 19,570 trillion Naira recorded on Monday to and stood at 19,805 trillion on Tuesday. While the All Share Index gained from yesterday’s closing of 37,443.40 basis points and stood at 37,893.61 basis points at the close of trading activities today.

The total volume traded increased by 3.6% to 442.22 million units, valued at N10.29 billion, and exchanged in 4,948 deals.

ZENITH BANK PLC was the most traded stock by volume at 59.02 million units, while DANGOTE CEMENT PLC was the most traded stock by value at N3.17 billion.

Sectoral performance was mixed, following gains in the Industrial Goods index by 3.4% and Banking index by 0.1%, whereas losses were seen in the Insurance index by 0.5%, Oil & Gas index by 0.3% and Consumer Goods index by 0.2%.

However, market sentiment, as measured by market breadth, has remained negative, as 21 stocks fell, relative to 14 gainers.

Leading the gainers table is ETERNA PLC with an opening price of N4.10k per share and a closing price of N4.51k per share, gaining 0.41k or 10.00 percent.

FTN COCOA PROCESSORS PLC which closed at 0.68k per share on Monday closed at 0.74k per share on Tuesday, gaining 0.06k or 8.82 percent.

While JAPAUL GOLD & VENTURES PLC commenced Tuesday’s trading at 0.37k per share and closed at 0.40k per share, gaining 0.03k or 8.11 percent.

Conversely, CONSOLIDATED HALLMARK INSURANCE PLC led the losers chart by 0.03k or 10.00 percent to close at 0.27k per share, dropping from yesterday’s closing of 0.30k per share.

Next is RED STAR EXPRESS PLC with an opening selling price of N3.43k per share and a closing selling price of N3.10k, losing 0.33k or 9.62 percent.

And ASSOCIATED BUS COMPANY PLC trailed right after by 9.09 percent or 0.03k fall, to close at 0.30k per share, after opening at 0.33k per share.

Mercy Chukwudiebere