Trading activities on the Nigerian Stock Exchange witnessed a reversal on Tuesday, as transactions closed positive after the downturn on Monday.

The market capitalisation of the listed equities rose by N78bn or 1.2 per cent from N6.562tn on Monday to N6.640tn.

Similarly, the NSE’s All-Share Index increased by 247.45 basis points or 1.2 per cent to close at 21,072.27, up from 20,824.82 points the previous day.

The NSE-30 Index rose by 1.3 per cent or 12.19 basis points, from 934.29 points to close at 946.48 points.

This, according to analysts, is as a result of increased activities and high demand for stocks in some key sectors.

Specifically, renewed buying activities were recorded in the building materials, construction/real estate and breweries sub-sector, which according to the analysts, impacted the outlook recorded.

Among the other indices in the market, the NSE Insurance Index recorded the highest appreciation, rising by 2.74 basis points 2.14 per cent from 127.96 points to 130.70 points.

The banking index and the food/beverages index also gained 0.9 per cent and 1.9 per cent to close at 274.00 points and 1,727.19 points respectively.

The banking sub-sector maintained its lead on the activity chart, with investors exchanging 182.08 million shares, worth N778m in 1,363 transactions. Activities in the banking sub-sector accounted for 75 per cent of total turnover.

Volume in the sub-sector was driven by trading in the shares of Diamond Bank Plc, Skye Bank Plc and First Bank for of Nigeria Plc.

A total of 25 stocks recorded price appreciation compared to 17 stocks which lost.

Cement Company of Northern Nigeria Plc recorded the highest price appreciation, rising by five per cent or 25 kobo to close at N5.25 per share.

PZ Cussons Nigeria Plc gained five per cent or N1.40 to close at N29.40 per share.

Julius Berger Nigeria Plc and Nigerian Breweries Plc rose by five per cent each to close at N33.18 and N98.76 per share respectively.

On the other hand, Dangote Flour Mills Plc lost the highest, shedding five per cent or 31 kobo to close at N5.89 per share.

Union Bank of Nigeria Plc also lost 4.9 per cent or 50 kobo to close at N9.57 per share.

Avon Crowncaps and Containers Plc and Vitafoam Plc fell by 4.8 per cent each to close at N5.65 and N5.27 per share respectively.

Source: Punch/Udeme Ekwere