Stock market up 0.66% as traders recoup N180bn
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited had a break on Tuesday, appreciating 0.66% after posting losses for the past five consecutive trading sessions.
Dangote Cement, Oando, Access Holdings, Seplat and 10 others inspired yesterday’s rally, although negative investor sentiment persisted as 22 stocks lost points during the session.
According to the analysis of the stock market data, the industrial goods, energy and banking counters appreciated by 3.86%, 0.68% and 0.38% each, while the sectors of consumer goods and insurance depreciated by 0.11% and 0.06% respectively. .
When the market closed for the day, the market capitalization of the local exchange increased by N180 billion to N27.544 trillion from N27.364 trillion, while the All Share Index (ASI) improved by 335.01 points to 51,091.75 points to 50,756.74 points.
However, the level of trading declined on Tuesday as traders bought and sold 167.0 million shares worth 2.7 billion naira in 4,398 trades compared to 345.0 million shares of worth 3.1 billion naira traded in 5,075 transactions on Monday, representing a decline in trade. volume, value and number of transactions by 10.86%, 51.60% and 13.34% respectively.
Transcorp finished as the most traded stock with 19.3 million units sold for N24.4 million, UBA sold 17.6 million units worth N131.2 million, GTCO traded 17.3 million units worth N365.2 million, Zenith Bank traded 12.8 million units worth N281. 0.9 million, while FBN Holdings traded 11.3 million units for N95.4 million.
On the winners chart, Livestock Feeds was leading after its share price rose 10.00% to N1.32, MRS Oil improved 9.80% to N16.25, Dangote Cement rose 9.80% to N16.25, appreciated 8.30% to N270.00, NAHCO flew 7.69% to N8.40, while Royal Exchange climbed 5.56% to 95 kobo.
On the Losers Diary, the duo of Learn Africa and BUA Foods finished top after losing 10.00% each to settle at N2.25 and N49.50 respectively. Japaul was down 9.68% at 28 kobo, GlaxoSmithKline was down 9.22% at N6.40, while NASCON was down 8.56% at N11.75.