ga('send', 'pageview');

Nigerian Stocks Slightly Appreciate by 0.03%

By Dipo Olowookere

Trading on the floor of the Nigerian Stock Exchange (NSE) closed on a positive note on Tuesday after Monday’s decline.

The local bourse finished 0.03 percent higher after the day’s session with the year-to-date loss ending at 15.93 percent.

It was observed that the market was bubbling with life during trading, resulting in rise in the volume and value of equities transacted by investors.

At the close of transactions, the volume of shares exchanged by investors increased by 181.30 percent at Tuesday’s session, while the value of stocks sold moved up by 44.10 percent.

A total of 399.8 million shares worth N2.2 billion were exchanged at the market on Tuesday compared with the 142.1 million equities valued N1.6 billion traded on Monday.

ALSO READ  Asian Shares Close Higher as US, China Suspend Trade War

These trades were dominated by stocks in the services sector, which accounted for 280.2 million shares worth N575 million, while stocks in the financial services followed with 98.3 million units worth N708 million.

A total of 279.1 million units of Ikeja Hotel shares valued at N572.2 million were transacted during the trading day, making it the most traded stock on Tuesday by volume.

It was trailed by FBN Holdings, which sold 19.6 million units worth N145.6 million, and Diamond Bank, which traded 15.7 million equities for N16.6 million.

ALSO READ  Asian Equities Pare Early Gains to End Mixed

FCMB transacted 13.1 million shares worth N20.8 million, while UBA exchanged 9 million equities worth N71.9 million.

On the price movement chart, Lafarge Africa topped the gainers’ table after growing by N1.30k to settle at N16.30k per share.

It was followed by GlaxoSmithKline, which added N1.05k to its share value to end at N12.05k per share, and Stanbic IBTC, which grew by N1 to close at N48 per share.

Flour Mills appreciated by 35 kobo to finish at N16.85k per share, while Unilever Nigeria went up by 25 kobo to quote at N39.50k per share.

At the other end, Nestle Nigeria emerged as the day’s heaviest price loser, going down by N10 to settle at N1450 per share.

ALSO READ  FG Receives Progress Report on Tax Laws Reform

The next was Okomu Oil, which lost N4.05k to close at N75.75k per share, while Julius Berger fell by N2.35k to end at N21.35k per share.

Forte Oil went down by N1.35k to end at N20.60k per share, while Seplat depreciated by 50 kobo to finish at N668 per share.

A look at the major market indices showed that the All-Share Index (ASI) increased on Tuesday by 9.49 points to close at 32,152.90 points, while the market capitalisation garnered N3 billion to settle at N11.738 trillion.

Related Articles

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

more recommended stories

%d bloggers like this: