Home Markets Stock market extends gains, closes 0.69% higher (23/10/18)

Stock market extends gains, closes 0.69% higher (23/10/18)


The Nigerian Bourse on Tuesday extended gains to four straight trading sessions with the benchmark indices of the All-Share Index growing by 0.69 percent while the market’s Year-to-Date (YTD) returns remained at -13.21 percent at the end of the trading session.

In specific terms, the All-Share Index closed at 33,191.45 points as against 32,962.82 points of Monday thereby adding 121.130 points just as the market capitalisation rose by 0.69 percent to close at N12.117 trillion from the previous close of N12.034, up by 83 billion.

However, both the volume and value of traded stocks declined by 28.20 percent and 52.52 percent, closing at 185 million units and N2.3 billion respectively.

At the close of trading session, the price movement chart closed negative as 14 stocks gained as against 19 losers.

Despite the contraction in trade volume and value, Transnational Corporation (Transcorp) led the gainers’ chart, closing trading for the day with 9.60 percent growth and above the previous close of N1.25 to settle at N1.37 per share.

Honeywell flour grew 4.35 percent and FBN Holdings grew 4.32 percent ahead of other 11 stocks that made it to the green.

Conversely, First Aluminium topped the losers’ chart losing 9.09 percent of its share price. This is followed by PZ, MCNICHOLS and Niger Insurance, all shedding 7.66 percent, 7.41 percent and 7.14 percent of their share prices.

In all, the market turnover closed negative as volume moved down by 28.20 percent as against 21.29 percent uptick recorded in the previous session. FCMB traded the highest volume of about 27.5 million units, valued at about N42 million. Guaranty also traded about 15million units of its shares in 172 deals, worth about N553 million.