Investors Gain N136bn As 29 Stocks Rise

Transactions on the floor of the Nigerian Stock Exchange on Tuesday sustained positive sentiment with N37bn gain.

This is even as President Muhammadu Buhari sent the name of Mr Lamido Yuguda to the Senate as his nominee for the position of Director-General of the Securities and Exchange Commission.

Also to be confirmed are three nominees as full-time commissioners of the commission.

The market performance indices, NSE ASI, appreciated by 1.09 per cent with market breath closing positive with 29 gainers as against only eight losers.

Consequently, the All-Share Index grew by 261.12 basis points or 1.09 per cent from 23,941.75 index points the previous day to 24,202.87 while the market capitalisation of equities appreciated by N136bn to close at N12.613tn from N12.477tn.

On the activity chart, premium subsector dominated in volume terms with 180.55 million shares exchanged in 1,837 deals. The subsector was enhanced by the activities in the shares of Zenith Bank Plc and Access Bank Plc.

Banking subsector boosted by the activities in the shares of GTBank Plc and Wema Bank Plc followed with 48.53 million units traded in 732 deals.

In all, investors exchanged a total of 339.75 million shares exchanged in 4,784 deals.

Further analysis of the day’s trading showed that Caverton Plc led the gainers with 10 per cent to close at N2.75 per share while Okomu Oil Plc followed with 9.99 per cent to close at N64.40 per share and Unilever Nigeria Plc with a gain of 9.59 per cent to close at N15.05 per share.

On the flip side, Lasaco Insurance Plc led the losers’ chart with a drop of 8.00 per cent to close at 23 kobo per share. Nacho Nigeria Plc followed with a loss of 4.51 per cent to close at N2.33 per share while Wapic Insurance Plc dropped by 3.33 per cent to close at 29 kobo per share.