Total Nigeria, 32 Others Lift Equities Market by 0.58%

By Dipo Olowookere

Gains recorded by 33 counters led by Total Nigeria Plc on Tuesday reversed the loss posted on Monday by the stock market.

The Nigerian Stock Exchange (NSE) had closed 0.32 percent lower yesterday, but buying interest by investors today lifted the market, closing 0.58 percent higher at the close of transactions.

A total of 204.85 points were gained on Tuesday by the All Share Index (ASI) to settle at 35,516.21 points, while the market capitalisation increased by N75 billion to finish at N12.966 trillion.

Business Post reports that the market breadth ended positive today with 33 price gainers and 16 price losers.

Total Nigeria, which topped the price risers’ chart today, increased by N9 to settle for the day at N190 per share.

It was followed by Flour Mills of Nigeria, which rose by N1.20k to end at N24.80k per share, and GTBank, which appreciated by N1 to settle at N39 per share.

PZ Cussons garnered 95 kobo to close at N14 per share, while Dangote Sugar added 50 kobo to its share value to close at N15.50k per share.

At the other side, it was a bad day for GlaxoSmithKline as its shares depreciated by N1 to close at N14 per share.

Forte Oil went down by 70 kobo to end at N22.30k per share, while Ecobank also shed 70 kobo to settle at N19.30k per share.

Nigerian Breweries lost 50 kobo today to finish at N100 per share, while Custodian Investment fell by 35 kobo to close at N5.10k per share.

At the close of transactions on Tuesday, the volume and value of shares traded by investors at the market increased by 89.97 percent and 172.34 percent respectively.

A total of 339.8 million equities worth N5.5 billion were exchanged today against the 178.8 million shares valued at N2 billion traded yesterday.

The shares of Consolidated Hallmark Insurance dominated these trades, accounting for 99.9 million units worth N31 million.

It was followed by Stanbic IBTC, which sold 73 million shares valued at N3.6 billion, while May & Baker exchanged 40.1 million equities for N91.9 million.

Transcorp sold 16.1 million shares worth N19.7 million, while United Bank for Africa (UBA) exchanged 13.8 million equities valued at N115 million.