Stock Market Sustains Positive Sentiment, Gains N235bn

Transactions in Nigeria’s stock market, on Tuesday, sustained positive sentiment as the market capitalisation of equities appreciated by N235bn.

The major market performance indices, the Nigerian Stock Exchange All Share Index and market capitalisation, rose further by 1.20 per cent.

Consequently, the All-Share Index rose by 450.21 basis points or 1.20 per cent to close at 37,893.61 index points as against 37,443.40 recorded the previous day while market capitalisation of equities appreciated by N235bn or 1.20 per cent to close higher at N19.81tn from N19.57tn as market sentiment remained in the green territory.

Meanwhile, a turnover of 442.22 million shares in 4,948 deals was recorded in the day’s trading.

The premium subsector was the most active (measured by turnover volume); with 184.49m shares exchanged by investors in 1,885 deals.

Volume in the subsector was driven by activities in the shares of Zenith Bank Plc and UBA Plc.

The insurance subsector was boosted by the activities in the shares of AXA-Mansard Plc and African Alliance Plc followed with a turnover of 68.73 million shares in 507 deals.

However, market breadth closed negative with as the number of gainers at the close of trading session was 15 while decliners closed at 22.

Further analysis of the day’s trading showed that Eterna Oil Plc led the gainers’ table with 10 per cent to close at N4.51 per share while FTN Cocoa Plc followed with 8.82 per cent to close at 74 kobo per share and Japaul Oil Plc with a gain of 8.11 per cent to close at 40 kobo per share.

On the other hand, CHI Plc led the losers’ chart with a drop of 10 per cent to close at 27 kobo per share. Red Star Express Plc followed with a loss of 9.62 per cent to close at N3.10 per share while ABC Transport Plc dropped by 9.09 per cent to close at 30 kobo per share.