Stock Investors Gain N45bn On Positive Sentiment

Equities segment of the Nigerian Stock Exchange extend its rally on Tuesday following gains recorded by some blue-chip firms.

The NSE All-Share Index rose by 0.34 per cent, although the market breadth was negative as the number of gainers at the close of trading was 13 as against 22 decliners.

The ASI gained 85.19 basis points to close at 25.335.15 as against 25.249.96 on Monday while the market capitalisation of equities appreciated by N45bn to close at N13.22tn from N13.17tn as market sentiment remained positive.

A turnover of 268 million shares were traded in 4,137 deals on Tuesday.

The Insurance subsector was the most active (measured by turnover volume), with 108.42 million shares traded by investors in 226 deals. The subsector was largely driven by activities in the shares of Mutual Benefits Plc and AIICO Insurance Plc.

The premium subsector was boosted by activities in the shares of FBN Holdings Plc and the United Bank for Africa Plc, with a turnover of 46.71 million shares in 1,401 deals.

BOC Gases Nigeria Plc, Mutual Benefits Assurance and Royal Exchange Plc led the gainers’ table with a gain of 10 per cent each to close at N4.51, 22 kobo and 22 kobo per share respectively.

Neimeth International Pharmaceuticals Plc followed with a gain of 9.79 per cent to close at N2.13 per share, while Prestige Assurance Plc appreciated by 9.38 per cent to close at 70 kobo per share.

On the other hand, 11Plc, formerly Mobil Oil Plc, led the losers’ table, dropping by 9.96 per cent to close at N4.51 per share.

Fidson Healthcare Plc lost 7.69 per cent to close at 22 kobo per share while Japaul Oil & Maritime Services Plc declined by 7.41 per cent to close at 25 kobo per share.