Okomu Oil, Dangote Cement Push Stock Market 0.65% Higher

By Modupe Gbadeyanka

Gains recorded today by 24 equities trading on the floor of the Nigerian Stock Exchange (NSE) extended the upward movement of the market to the fourth day in a row.

At the close of trade on Tuesday, July 11, 2017, the stock market grew further by 0.65 percent, while investors posted N73.5 billion gain.

Okomu Oil was the highest gainer today, adding N2.83k to its share value to finish at N59.48k per share.

Dangote Cement followed with N1.28k gain to close at N206.21k per share, while Nigerian Breweries posted N1.25k addition to end at N154.26k per share.

GTBank and Zenith Bank rose by 89k and 71k to respectively settle at N35.51k per share and N22.2k per share.

The All-Share Index (ASI) added 213.38 points today to close at 32,827.98 points, while the market capitalisation progressed by N73.5 billion to settle at N11.314 trillion.

Despite the bullish performance at the market on Tuesday, some stocks fell short of yesterday’s performance.

Total Plc took the lead with a fall of N6.1k in its share price to close at N259.99k per share. It was closely trailed by Presco, which slumped by N3.39k to end at N64.54k per share.

Guinness lost N2 to finish at N60 per share, Unilever went down by N1 to settle at N33 per share, and Stanbic IBTC weakened by 74k to close at N30.26k per share.

A total of 218.8 million shares worth N2.1 billion exchanged hands at the close of transactions on Tuesday and were executed in 4,991 deals.

This was an improvement from what was achieved on Monday; 182 million shares traded in 3,710 deals valued at N2 billion.

UBA was investors’ delight at the stock market today with 35.3 million units sold at N317 million.

Niger Insurance traded 20 million shares worth N10 million, Zenith Bank executed 18.3 million shares valued at N401.3 million.

Diamond Bank exchanged 14.6 million shares at N18 million, while FCMB transacted 12.2 million shares at N15 million.