By Dipo Olowookere
The Nigerian Stock Exchange (NSE) appreciated on Tuesday by 0.65 per cent on the back on a renewed bargain hunting for some stocks that could still yield higher value.
Business Post observed that the search for such equities cut across the major sub-sectors of the market and this lifted their respective indices higher at the close of transactions.
The banking space grew by 2.18 per cent, the insurance sector appreciated by 2.02 per cent, the consumer goods gained 0.10 per cent, the industrial goods followed with a 0.06 per cent growth, while the energy counter gained 0.03 per cent.
By the time trading activities were brought to an end, the All-Share Index (ASI) increased by 220.82 points to 34,340.56 points from 34,119.74 points. In the same vein, the market capitalisation grew by N114 billion to N17.943 trillion from N17.829 trillion.
During the session, the trading volume reduced by 35.67 per cent to 365.4 million units worth 568.0 million units, the trading value dropped 35.96 per cent to N4.7 billion from N7.3 billion, while the number deals declined by 29.16 per cent to 6,325 deals from 8,928 deals.
Zenith Bank was the most active stock on Tuesday as it traded 71.9 million shares valued at N1.7 billion, while Transcorp traded 37.2 million stocks worth N32.9 million.
GTBank transacted 30.0 million shares for N1.0 billion, Access Bank traded 29.6 million equities worth N243.3 million, while UBA exchanged 29.3 million stocks worth N236.3 million.
On Tuesday, Stanbic IBTC was the highest price gainer, appreciating by N2.80 to close at N42.35 per share, while UBA gained 50 kobo to sell at N8.20 per unit.
Access Bank appreciated by 45 kobo to trade at N8.35 per share, FBN Holdings rose by 45 kobo to finish at N7.15 per share, while Union Bank gained 40 kobo to end at N5.90 per unit.
At the other side, Julius Berger was the heaviest price loser as it depreciated by N1.70 to close at N17.30 per share and was followed by Fidson, which fell by 53 kobo to finish at N4.87 per unit.
Guinness Nigeria depreciated by 50 kobo to settle at N17.50 per share, Eterna lost 46 kobo to sell at N4.15 per unit, while UAC Nigeria declined by 30 kobo to trade at N7.65 per share.
