29 Stocks Grow Investors’ Wealth by N375bn on Tuesday

By Dipo Olowookere

Some investors at the Nigerian Stock Exchange (NSE) had their portfolios showing green at the close of transactions on Tuesday.

This was boosted by the price appreciation recorded by 29 equities on the exchange, which erased the effect of losing seven stocks during the trading day.

The All-Share Index (ASI) increased yesterday by 719.45 points to settle at 23,809.31 points in contrast to the previous 23,089.86 points.

Equally, the market capitalisation grew by N375 billion to settle at N12.408 trillion compared with N12.033 trillion of the previous day.

The volume of shares transacted by investors increased by 38.15 percent to 345.2 million from 249.9 million as the value of trades went up by 77.45 percent to N4.3 billion from N2.4 billion, while the number of deals decreased by 28.28 percent to 4,689 deals from 6,538 deals.

GTBank was the most active stock at the market on Tuesday, trading 54.3 million units of its securities worth N1.1 billion.

Mutual Benefits Assurance traded 41.9 million equities valued at N9.0 million, Zenith Bank sold 40.3 million shares for N591.0 million, Sterling Bank exchanged 30.8 million stocks for N37.6 million, while Access Bank transacted 28.8 million shares valued at N177.9 million.

On the price movement chart, Nestle Nigeria dominated the gainers’ table with a price appreciation of N54.80 to settle at N975 per share.

Dangote Cement gained N13 to sell at N143 per unit, MTN Nigeria appreciated by N4 to trade at N120 per share, Zenith Bank rose by 50 kobo to close at N14.85 per unit, while Access Bank added 40 kobo to its share price to sell at N6.50 per share.

At the other side of the coin, Flour Mills was the heaviest loser, suffering a N1.25 loss to settle for the day at N19.75 per unit.

BUA Cement shed 80 kobo to sell at N31.80 per share, May & Baker lost 27 kobo to trade at N2.43 per unit, NPF Microfinance Bank depreciated by 12 kobo to quote at N1.13 per share, while Linkage Assurance decreased in value by 5 kobo to 48 kobo per unit.

Business Post reports that only the insurance index closed in the red territory on Tuesday, losing 0.32 percent.

The banking and consumer goods indices appreciated by 2.42 percent each, the industrial goods counter gained 1.56 percent, while the oil/gas space rose by 0.73 percent.