Dipo Olowookere
By Dipo Olowookere
The Nigerian Stock Exchange (NSE) was saved from the claws of the bears on Tuesday, bringing a sigh of relief to investors, who had been forced to endure a turbulent time lately.
The market appreciated by 0.03 per cent, thanks to AIICO Insurance, Zenith Bank and 14 other equities.
Zenith Bank on its part contributed chiefly to the growth witnessed yesterday as a result of the release of its 2020 full-year earnings and the declaration of N2.70 final dividend.
This announcement triggered buying pressure and lifted the All-Share Index (ASI) by 10.77 points to 40,164.86 points from 40,154.09 points and pushed the market capitalisation higher by N6 billion to N21.015 trillion from N21.009 trillion.
At the close of transactions, the volume of shares rose by 16.80 per cent to 338.0 million units from 289.3 million units, while the value of traded equities increased by 7.59 per cent to N3.9 billion from N3.6 billion, with the number of deals rising by 5.63 per cent to 5,232 deals from 4,953 deals.
For another trading day, FBN Holdings was the most active stock with the sale of 64.6 million units valued at N471.8 million, while Zenith Bank traded 52.7 million units worth N1.3 billion.
Transcorp exchanged 42.0 million equities for N38.1 million, United Capital transacted 21.0 million stocks valued at N128.2 million, while UBA traded 18.2 million shares for N153.2 million.
During the session, AIICO Insurance and Livestock Feeds topped the gainers’ table with a price appreciation of 7.14 per cent each to finish at N1.20 per unit and N2.25 per share respectively.
Flour Mills improved by 6.16 per cent to close at N31 per unit, Zenith Bank gained 4.84 per cent to trade at N26 per share, while Cutix appreciated by 4.65 per cent to sell for N2.25 per unit.
Sitting on top of the losers’ list was Sunu Assurances, which lost 9.88 per cent to settle at 73 kobo per share and was deputised by LASACO Assurances, which declined by 9.87 per cent to trade at N1.37 per unit.
Africa Prudential depreciated by 9.85 per cent to quote at N5.95 per share, ABC Transport lost 8.57 per cent to close at 32 kobo per unit, while University Press depleted by 8.53 per cent to trade at N1.18 per share.
For the sectors, only the banking index closed positive with a 1.68 per cent growth as the consumer goods and insurance sectors lost 1.61 per cent and 0.92 per cent respectively, with the energy and industrial goods counters closing flat.
