Equities market indices gain 0.36%
At the close of trading activities on the equities market of the Nigerian Stock Exchange (NSE) on Tuesday, the All-Share Index (ASI) rose by 99.71 basis points or 0.36 per cent to 27,871.90 points from 27,772.19 basis points over gain highly capitalized stocks.
Specifically, investors gained N52 billion in value as market capitalisation went up to N14.516 trillion.
Consequently, the Month-to-date loss moderated to 3.37per cent, while the Year-to-Date gain increased to 3.84per cent.
On sector performance, all indices recorded losses, save for the Oil & Gas (+0.05per cent) index. The Consumer Goods (-1.29 per cent) index led the losers log, followed by the Industrial Goods (-0.76 per cent), Insurance (-0.55 per cent), and Banking (-0.35 per cent) indices.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; MTN Nigeria, UAC of Nigeria (UACN), Lafarge Africa, Cadbury Nigeria and Zenith Bank.
Analysts at Afrinvest Limited said that “Despite today’s positive performance, we maintain a bearish outlook on the market due to waning investor sentiment.”
However, market breadth remained negative with 13 stocks recorded gains relative to 17 losers. UACN recorded the highest price gain of 9.41 per cent, to close at N9.30, per share.
Japaul Oil & Maritime Services followed with a gain 8.33 per cent to close at 26 kobo, while Cadbury Nigeria appreciated by 4.44 per cent to close at N9.40, per share.
MTN Nigeria went up by 4.35 per cent to close at N120.00, while Aiico Insurance appreciated by 3.66 per cent to close at 85 kobo, per share. On the other hand, Skyway Aviation Handling Company led the losers’ chart by 9.89 per cent, to close at N3.37, per share.
Caverton Offshore Support Group followed with a decline of 9.86 per cent to close at N2.65, while MRS Oil Nigeria shed 9.80 per cent to close at N13.80, per share.
Sovereign Trust Insurance lost 9.09 per cent to close at 20 kobo, while Linkage Assurance shed 8.93 per cent to close at 51 kobo, per share.
Total volume traded increased by 38 per cent to 276.268 million shares, worth N3.71 billion, and traded in 3,690 deals. Transactions in the shares of United Bank for Africa (UBA) topped the activity chart with 49.47 million shares valued at N381.67 million.
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Guaranty Trust Bank followed with 41.43 million shares worth N1.20 billion, while Zenith Bank traded 30.24 million shares valued at N604.76 million.
Japaul Oil & Maritime Services traded 29.62 million shares valued at N7.69 million, while Ecobank Transnational Incorporated (ETI) transacted 27.74 million shares worth N192.81 million.
