Dipo Olowookere
By Dipo Olowookere
The stock market closed in the green territory on Tuesday after Okomu Oil, Dangote Cement and 13 others lifted the Nigerian Exchange (NGX) Limited by 0.50 per cent.
Business Post reports that renewed interest in the shares of Okomu Oil caused its value to rise by 10.00 per cent yesterday to close the session at N106.15.
Learn Africa appreciated by 9.00 per cent to sell for N1.09, Champion Breweries rose by 4.71 per cent to trade at N2.00, Unilever Nigeria appreciated by 3.86 per cent to N12.10, while Cornerstone Insurance gained 3.57 per cent to quote at 58 kobo.
There were 17 price losers at the market on Tuesday led by CWG, which declined by 9.42 per cent to trade at N1.25, followed by Regency Alliance, which fell by 8.16 per cent to sell for 45 kobo.
FTN Cocoa went down by 7.69 per cent to 36 kobo, Veritas Kapital decreased by 7.69 per cent to 24 kobo, while Caverton depreciated by 5.26 per cent to N1.80.
It was observed that yesterday’s gains were buoyed by three of the five major sectors. The industrial goods sector appreciated by 1.04 per cent, the consumer goods counter gained 0.57 per cent, the energy index rose by 0.08 per cent, while the insurance and the banking sectors went down by 1.03 per cent and 0.05 per cent respectively.
At the close of transactions, the All-Share Index (ASI) increased by 195.30 points to 38,881.70 points from 38,686.40 points, while the market capitalisation expanded by N102 billion to N20.266 trillion from N20.164 trillion.
Yesterday, investors traded 218.5 million shares worth N1.6 billion in 3,630 deals versus the 210.8 million shares worth N1.5 billion transacted in 3,958 deals on Monday, indicating that the trading volume and value rose by 3.68 per cent and 6.04 per cent respectively, while the number of deals dropped 8.29 per cent.
The most active stock for the day was Courtville as it sold 35.8 million units worth N7.3 million, followed by Fidelity Bank, which traded 26.6 million units worth N60.2 million.
Zenith Bank transacted 15.3 million shares for N349.3 million, Axa Mansard Insurance exchanged 13.9 million equities for N12.0 million, while Veritas Kapital sold 12.8 million stocks for N3.4 million.
