Stock Investors Gain N117bn In Bullish Trading

The Nigerian stock market opened the trading week on a positive note as gains in BUA Cement Plc and 11 others caused Investors to earn N117bn on Tuesday.

The All Share Index grew by 214.49 absolute points, depicting a gain of 0.45 per cent to close at 47,55.92 points.

As a result, investors gained N117bn in value as market capitalisation went up to N25.908tn.

The bullish trend was influenced by gains recorded in medium and large capitalised stocks, amongst which are; BUA Cement, Nigerian Exchange Group, May & Baker Nigeria, United Bank for Africa and United Capital.

As measured by market breadth, market sentiment was negative, as 15 stocks lost relative to 12 gainers.

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May & Baker Nigeria recorded the highest price gain of 9.76 per cent to close at N4.05, per share.

Ikeja Hotel followed with a gain 9.73 per cent to close at N1.24, while BUA Cement went up by 8.65 per cent to close at N56.50, per share.

Cornerstone Insurance went up by 8.00 per cent to close at 54 kobo, while Unity Bank appreciated by 7.32 per cent to close at 44 kobo, per share.

University Press led the losers’ chart by 8.54 per cent to close at N1.50, per share.

Cadbury Nigeria followed with a decline of 6.94 per cent to close at N11.40, while FTN Cocoa processors went down by 6.67 to close at 28 kobo, per share.