Stock Market Gains N4bn On Blue-chip Firms

The Nigerian equity market on Tuesday returned to the green territory following gains recorded by some blue-chip firms despite the #EndSARS protests that are ravaging the country.

The market breadth equally closed positive, recording 23 gainers against 17 losers as both market performance indices grew by 0.03 per cent.

Consequently, the All-Share Index appreciated by 7.51 basis points or 0.03 per cent to close at 28,665.82 index points as against 28.658.31 recorded the previous trading session.

Market capitalisation of equities grew by N4bn from N14.979tn the previous day to N14.983tn as market sentiment remained in the positive territory.

Meanwhile, a turnover of 297.31million shares exchanged in 4,736 deals was recorded in the day’s trading.

The premium sub-sector remained the most active (measured by turnover volume); with 134.61million shares exchanged by investors in 1,563 deals.

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

Also, banking sub-sector boosted by the activities in the shares of GTBank Plc and Fidelity Bank Plc followed with a turnover of 44.12 million shares in 988 deals.

Further analysis of the day’s trading showed that in percentage terms, International Breweries Plc topped the day’s gainers’ table with 9.90 per cent to close at N6.40 per share.

UCAP Plc followed with 8.17 per cent to close at N3.84 per share. Nigerian Breweries Plc added 4.67 per cent to close at N51.50 per share.

On the flip side, Regency Alliance Insurance Plc led the losers’ with a drop of 8.33 per cent to close at 22 kobo per share while Cornerstone Insurance Plc shed 4.76 per cent to close at 60 kobo per share.

PZ Cussons Plc trailed with 4.65 per cent to close at N4.10 per share.