By Dipo Olowookere
It was another sterling performance on the floor of the Nigerian Stock Exchange (NSE) as the renewed investor confidence helped the market to gain 0.70 per cent on Tuesday.
The growth was sustained by the demand for banking and insurance stocks at the session, making the sectors to grow respectively by 2.16 per cent and 2.72 per cent. The consumer goods, energy and industrial goods sectors also appreciated by 0.92 per cent, 0.82 per cent and 0.45 per cent respectively.
Today, the trading volume and number of deals grew by 13.14 per cent and 24.75 per cent respectively, while the trading value went down by 47.59 per cent.
A total of 385.6 million stocks worth N2.9 billion were traded in 5,283 deals as against the 340.8 million shares worth N5.6 billion transacted in 4,235 deals on Monday.
FBN Holdings was the most traded stock at the market on Tuesday for transacting 81.8 million units valued at N505.5 million, while Access Bank traded 50.7 million equities worth N391.2 million.
Fidelity Bank exchanged 35.2 million shares for N75.1 million, Ecobank transacted 24.2 million stocks worth N121.2 million, while UBA traded 20.5 million shares valued at N147.1 million.
Business Post reports that the market breadth was positive today with 46 price gainers and two price losers; NEM, which lost 3 kobo to sell for N2.03 per share, and Wema Bank, which lost one kobo to settle at 57 kobo per unit.
Flour Mills led the gainers’ chart after adding N2.30 to its share value to close at N26.50 per share, while Conoil gained N1.55 to finish at N17.35 per share.
Guinness Nigeria appreciated by 90 kobo to sell at N16.90 per unit, Cadbury Nigeria grew by 70 kobo to N8.30 per share, while GTBank gained 60 kobo to close at N31.25 per share.
At the close of business, the All-Share Index (ASI) increased by 202.33 points to settle at 28,980.29 points as against 28,777.96 points of the previous day, while the market capitalisation went up by N106 billion to finish at N15.148 trillion in contrast to the previous session’s N15.042 trillion.
