Dipo Olowookere
By Dipo Olowookere
Equities trading on the Nigerian Stock Exchange (NSE) made a 0.83 per cent rebound on Tuesday after going down by 0.17 per cent on Monday.
The growth achieved yesterday increased the All-Share Index (ASI) by 254.08 points to 30,733.47 points from 30,479.39 points.
It equally pushed the market capitalisation to the next level after it appreciated by N133 billion to N16.064 trillion from N15.931 trillion.
Business Post observed that bargain-hunting in some stocks, especially in the industrial goods, energy and insurance sectors, contributed to the gains recorded at the market yesterday.
The industrial goods sector grew by 2.85 per cent, the energy index rose by 0.62 per cent, the insurance counter appreciated by 0.33 per cent, while the banking and consumer goods sectors lost 0.47 per cent and 0.13 per cent respectively.
A total of 24 stocks appreciated in price on Tuesday, higher than the 18 equities that depreciated in price during the same session, making the market breadth, which indicates investor sentiment, to close positive.
During trading yesterday, Dangote Cement gained N9 to close as the highest price gainer at N169 per share and was followed by CAP, which appreciated by N1.95 to settle at N22.30 per unit.
Vitafoam improved by 35 kobo to sell at N6.75 per share, Dangote Sugar rose by 25 kobo to finish at N15.40 per share, while Oando gained 18 kobo to trade at N2.75 per share.
GTBank led the price losers’ chart on Tuesday after shedding 50 kobo to close at N32 per unit and was trailed by Stanbic IBTC, which also lost 50 kobo to finish at N46 per share.
Guinness Nigeria, Custodian Investment and Flour Mills depreciated by 45 kobo each to trade at N16.55 per unit, N5.60 per share and N28.40 per unit respectively.
On the activity chart, only the trading value closed in the green region as it increased by 2.32 per cent to N3.9 billion from N3.8 billion.
The trading volume and the number of deals went down by 10.77 per cent and 7.85 per cent respectively to 336.1 million shares from 376.7 million shares, and 5,575 deals from 6,050 deals.
Zenith Bank was the most traded stock by volume on Tuesday with 41.1 million units of its shares valued at N895.7 million exchanging hands in the session.
FBN Holdings traded 40.6 million units worth N258.0 million, UBA transacted 32.1 million stocks for N242.9 million, Fidelity Bank exchanged 31.9 million equities worth N78.0 million, while Access Bank traded 28.9 million stocks valued at N232.1 million.
