By Dipo Olowookere
Transactions on the floor of the Nigerian Stock Exchange (NSE) rebounded on Tuesday after enduring a two-day bearish run.
The equity market marginally rose by 0.03 percent after the All-Share Index (ASI) increased by 10.64 points to close at 38,924.63 points.
However, the market breadth ended weak yesterday despite the slight gain with the market closing with 21 gainers and 23 losers. A total of 91 equities participated in trading on the NSE platform on Tuesday.
At the close of market, the volume of shares exchanged improved by 31.97 percent from 350.595 million to 462.670 million, while the total value of stock transacted increased by 445.40 percent from N4.916 billion to N26.810 billion.
It was the Financial Services sector that led the activity chart yesterday with 305.57 million shares exchanged for N2.396 billion, while the Industrial Goods followed with 98.581 million shares exchanged for N23.417 billion.
Union Bank led the gainers’ chart with 10.01 percent share price appreciation, closing at N7.91k per share, and was followed by Diamond Bank, which rose by 7.14 percent to settle at N1.50k per share; and Berger Paints, which advanced by 4.9 percent to end at N7.71k per share.
Caverton grew by 4.55 percent on Tuesday to finish at N1.38k per share, while NASCON moved up by 4.06 percent to settle at N19.50k per share.
On the losing front, FCMB came out bottom with an end-of-day price depreciation of 4.69 percent to close at N1.22k per share, followed by Fidelity Bank, which depreciated by 4.64 percent to settle at N2.26k per share.
NAHCO declined by 4.64 percent to finish at N4.32k per share, Linkage Assurance shed 4.62 percent of its share price to close at 62k per share, while Sterling Bank went down by 4.59 percent to close at N1.4k per share.
Dangote Cement recorded the highest volume of 95.5 million traded shares, followed by Diamond Bank (51.17 million), FBN Holdings (49.94 million) and FCMB (48.09 million).
Business Post reports that yesterday’s marginal gain at the market pushed the year-to-date return to 44.84 percent, with the market capitalisation growing by N3 billion to settle at N13.6 trillion.
