Stock Market Reverses Loss, Records Marginal Gain

Transactions on the floor of the Nigeria Stock Exchange on Tuesday recorded marginal gain to reverse the previous day’s loss.

The NSE All-Share Index declined by 0.015 per cent as investors leveraged undervalued stocks.

The ASI appreciated by 3.82 basis points to close at 25,136.49bps as against 25,132.67bps the previous trading session.

The market capitalisation of equities grew marginally by N2bn from N13.110tn the previous day to N13.112tn as market sentiment remained in the positive territory.

Meanwhile, a turnover of 271 million shares, which exchanged hands in 3,693 deals, was recorded on Tuesday.

The premium sub-sector was the most active (measured by turnover volume), with 80.35 million shares traded by investors in 1,216 deals.

The volume in the subsector was largely driven by trading activities on the shares of Access Bank Plc and Zenith Bank Plc.

The banking subsector was boosted by the activities in the shares of GTBank Plc and Fidelity Bank Plc, with a turnover of 55.59 million shares in 468 deals.

Further analysis of the day’s trading showed that UPL Plc topped the gainers’ table with 9.91 per cent to close at N1.22 per share while Cornerstone Insurance Plc followed with 9.43 per cent to close at 58 kobo per share.

Lasaco Insurance Plc appreciated by 7.14 per cent to close at 30 kobo per share.

On the other hand, Conoil Plc led the losers with a drop of 9.76 per cent to close at N15.25 per share while ARDOVA Plc and Oando Plc shed 9.68 per cent each to close at N12.60 and N2.24 per share respectively.

Fidson Healthcare Plc shed 5.25 per cent to close at N3.79 per share.