Nigerian Shares Extend Rally as Investors Gain N67b

By Modupe Gbadeyanka

Trading activities on the floor of the Nigerian Stock Exchange (NSE) closed on a positive note again on Tuesday as the major market indices closed in the green territory.

Business Post reports that a bit of profit taking was observed today and as at past 1pm, the stock market was in the red zone, but some late transactions pushed the market away from danger, finishing 0.42 percent higher after the close of business.

When the market ended for the day, 38 stocks appreciated in value, while 24 equities went down, leaving the market breadth to end positive.

The All-Share Index (ASI) appreciated by 187.31 points to close at 44,493.79 points, while the market capitalisation rose by N67 billion to finish at N15.950 trillion, and the year-to-date return stood at 16.34 percent.

At the close of trading activities on Tuesday, the volume of equities transacted by investors increased by 52.96 percent, while the value rose by 26.38 percent.

A total of 877 million shares worth N7.4 billion shares exchanged hands in 8,780 deals today compared with the 573.4 million equities bought and sold yesterday in 6,756 deals valued at N5.9 billion.

The Financial Services sector led the activity chart with 566.2 million shares exchanged for N3.5 billion, while the Conglomerates industry followed with 162.3 million equities traded for N416 million.

Transcorp topped the activity chart with a total of 161 million shares transacted for N393.7 million, followed by Diamond Bank, which sold 99.9 million shares valued at N318.4 million.

Skye Bank traded 93.6 million shares worth N141.3 million, Honeywell Flour exchanged 87.2 million units valued at N260.9 million, while FCMB transacted 74 million shares for N240.8 million.

Guinness Nigeria was the day’s biggest price gainer, appreciating by N3 to settle at N113              per share.

It was trailed by Beta Glass, which rose by N2.95k to close at N62.35k per share, and Dangote Cement, which increased by N2 to finish at N270 per share.

Presco improved by N1 today to end at N71 per share, while Stanbic IBTC also went up by N1 to finish at N46 per share.

At the other end, Nestle suffered the biggest price loss after going down by N30 to settle at N1470 per share.

Seplat followed after depreciating by N7.60k to close at N685 per share, and CCNN went down by 49k to end at N17.60k per share.

Unilever depreciated by 30k to close at N44.20k per share, while Air Service declined by 25k to finish at N5.35k per share.