By Dipo Olowookere
Transactions at the local stock market marginally gained 0.01 percent on Tuesday to reverse the previous day’s bearish closure.
Business Post observed that during trading yesterday, the bulls struggled to overpower the bears despite the Nigerian Stock Exchange (NSE) recording 26 price gainers against only 10 price losers.
The level of activity was low on Tuesday with the volume of shares transacted by investors, the value and number of deals executed all depreciated.
The volume of trades went down by 50.72 percent to 246 million from 499.2 million, the value dropped by 55.83 percent to N2.4 billion from N5.5 billion, while the number of deals crashed by 14.30 percent to 3,320 from 3,874.
Diamond Bank maintained its position as the most actively traded stock on Tuesday, trading 71.6 million units worth N149.1 million.
Access Bank sold 27 million shares for N151.1 million, while GTBank exchanged 26.6 million equities for N847.8 million.
UBA transacted 22 million shares valued at N159.8 million, while FBN Holdings sold 17 million equities worth N123.6 million.
Seplat was the biggest price gainer with N10 added to its share value to settle at N540 per unit, while GTBank gained 40 kobo to end at N32.10k per share.
Red Star Express also rose by 40 kobo to finish at N4.80k per share, Custodian Investment appreciated by 35 kobo to settle at N6.50k per share, while Zenith Bank increased its share value by 30 kobo to end at N21.80k per share.
At the other side, Presco Oil topped the losers’ chart, losing N2 of its share price to finish at N60 per share.
CCNN went down by N1.90k to close at N25 per share, while Nigerian Breweries fell by N1 to end at N80 per unit.
NEM Insurance and UBA both lost 10 kobo each to finish respectively at N2.50k and N7.25k.
On the major market indices, the All-Share Index (ASI) increased by 4.16 points to settle at 30,736.88 points, while the market capitalisation appreciated by N1 billion to finish at N11.462 trillion.
Adedapo Adesanya