Investors Sustain Bullish Trend, Gain N1.045trn on NGX
The Nigerian stock market on Tuesday continued on a bullish trend with a gain of N1.045 trillion on the Nigerian Exchange Ltd.
Market capitalisation rose by N1.045 trillion or 1.56 per cent to close at N68.105 trillion, compared with N67.060 trillion posted on Monday.
Similarly, the All-Share Index (ASI) climbed by 1,662.60 points or 1.56 per cent, to settle at 108,361.10 from N106,698.50 earlier recorded.
The uptrend was driven by strong buying interest in medium and large capitalised stocks like: Access Corporation, Guaranty Trust Holding Company, United Bank for Africa and more.
Meanwhile, the market breadth closed positive with 42 gainers and 25 losers.
On the gainers’ chart, Ecobank Transnational Corporation grew by 10 per cent to close at N25.85 while Northern Nigeria Flour Mills also rose by 10 per cent, settling at N82.50 per share.
Nestlé Nigeria soared by 10 per cent, finishing at N1,210 and Beta Glass gained by 9.98 per cent, closing at N132.80 per share.
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Similarly, Austinlaz increased by 9.94 per cent to close at N1.88 per share.
On the losers’ chart, Guinea Insurance declined by 8.70 per cent, ending the session at 63k while DAAR Communications fell by 6.78 per cent, settling at 55k per share.
VFD Group dropped by 6.59 per cent, closing at N17.00 and WAPIC Insurance decreased by 6.07 per cent, closing at N2.01 per share.
Also, Regalins shed by 4.69 per cent, to close at 61k per share.
A total of 475.46 million shares worth N13.899 billion were exchanged across 17,575 transactions.
This is compared to 569.041 million shares worth N18.934 billion that was exchanged across 18,612 deals earlier.
Transactions in the shares of Access Corporation topped the activity chart with 103.92 million shares worth N2.2 billion.
Guaranty Trust Holding Company followed with 37.99 million shares valued at N2.422 billion while United Bank for Africa sold 30.73 million worth N1.04 billion.
Sterling Bank Nigeria traded 27.176 million shares valued at N147.24 million and Zenith Bank transacted 26.18 million worth N1.234 billion. (NAN)
