Stock Market Gains N19bn, 31 Firms Record Losses

Stock investors in the Nigerian Exchange Limited gained N19.11bn at the end of trading on Tuesday, despite negative sentiment in the market as 31 firms recorded losses as against 10 gainers.

The NGX All-Share Index appreciated by 0.09 per cent to close at 42,013.39 basis points from 41,976.79bps on Monday, while the market capitalisation of stocks rose to N21.93tn from N21.91tn.

Investor activity was bearish as trading volume fell by 15.65 per cent from 378.15 million shares valued at N3.24bn in 6,384 deals on Monday to 318.97 million units worth N3.28bn in 5,492 deals on Tuesday.

Analysing by sectors, the NGX Banking and Insurance indices declined by 1.5 per cent each while the NGX Industrial Goods, Oil and Gas, and Consumer Goods indices rose by 1.1 per cent, 0.7 per cent and 0.6 per cent, respectively.

United Bank for Africa Plc was the most traded stock in terms of volume, accounting for 16.48 per cent of the total volume of trades.

Zenith Bank Plc was the most traded stock in value, representing 22.81 per cent of the total value of trades on the NGX.

International Breweries Plc led the gainers’ chart as its share price appreciated by 9.62 per cent to N5.7. It was followed by Lasaco Assurance Plc as it increased by 8.33 per cent to close at N1.17 per share.

Other major gainers on Tuesday were Linkage Assurance Plc, Chams Plc and Oando Plc with 7.55 per cent, 4.35 per cent and 4.09 per cent increases, respectively.

Atop the losers’ chart was UAC of Nigeria Plc as its share price fell by 9.73 per cent to N10.2. FTN Cocoa Processors Plc followed as it dropped by 8.7 per cent to N0.42 per share.

FBN Holdings Plc (6.98), Unity Bank Plc (6.9), and Consolidated Hallmark Insurance Plc (6.67) also recorded major losses on Tuesday.