Home Markets Stock market halts loss streak, gains N113bn

Stock market halts loss streak, gains N113bn


The equity market of the Nigerian Stock Exchange (NSE) closed higher on Tuesday, gaining 0.95 percent, representing N113 billion value addition to reverse Monday’s negative performance.

In summary, the market capitalization increased by N113.70 billion, closing at N11.95 trillion while the All Share Index (ASI) rose by 308.70 absolute points, to close at 32,722.18 points from the previous day’s closing points of 32,413.00.

At the close of trading for the day, all other market indices showed positive trend as the volume and value of traded stocks grew 624.27 percent and 452.82 percent to close at 662.02 million units and N5.31 billion respectively.

However, the price movement chart closed negative, recording 16 gainers and 23 losers bringing the market breadth to a negative round off.

This is even as UAC Property topped percentage gainers, gaining 9.94 percent to close at N1.77 from the previous close of N1.61 per share. CUTIX and Unilever also grew 9.73 percent and 5.58 percent to close at N2.03 and N43.5 respectively.

Other gainers include FBNH, Cadbury, Nigerian Breweries, Dangote Cement, WAPIC, Jaiz Bank, Transcorp, Zenith Bank, Dangote Flour, Union Bank, Guinness, UBA and Forte Oil.

Conversely, Beta Glass topped the losers’ chart, losing 10.00 percent of its share price, closing at N70.20 from the previous close of N78 per share. Julius Berger and Niger Insurance also shed 9.83 percent and 9.09 percent respectively among others on the losers’ chart.

Guaranty Trust Bank traded about 41.8 million units of its shares in 221 deals, valued at about N1.53 billion.