Equity Market Ends Downturn, Records Marginal Gain

Transactions on the floor of the Nigerian Stock Exchange on Tuesday recorded marginal gain to halt four days losing streak.

The market breadth closed positive with 18 losers against 15 gainers.

Consequently, the All-Share Index gained 6.55 basis points or 0.02 per cent to close at 28,344.04 as against 28,337 recorded the previous day.

The market capitalisation of equities appreciated by N3bn or 0.02 per cent to close at N14.814tn from N14.811tn as market sentiment returned to the green zone.

Meanwhile, a turnover of 535.83 million shares exchanged in 4.498 deals was recorded in the day’s trading.

Banking sub-sector was the most active (measured by turnover volume); with 127.90 million shares exchanged by investors in 834 deals.

Volume in the sub-sector was largely driven by activities in the shares of GTBank Plc and Sterling Bank Plc.

The premium subsector boosted by activities in the shares of FBNH Plc and UBA Plc followed with a turnover of 77.55 million shares in 1,740 deals.

The number of gainers at the close of trading session was 18 while decliners also closed at 15.

Eterna Oil Plc led the gainers’ table with a gain of 9.77 per cent to close at N4.38 per share while International Breweries Plc followed with a gain of 9.56 per cent to close at N4.70 per share.

Regency Alliance Insurance Plc added 9.09 per cent to close at 24 kobo per share.

On the other hand, E-transact Nigeria Plc led the losers’ table, dropping 9.79 per cent to close at N2.12 per share.

Royal Exchange Plc followed with 7.41 per cent to close at 25 kobo per share while Portland Paints Plc trailed with a loss of 6.98 per cent to close at N2.00 per share.