The increase in equity trading activities recorded at the beginning of the week continued on Tuesday, with major indices closing positive.

At the close of trading activities the Nigerian Stock Exchange’s All-Share Index rose by 0.3 per cent or 56.18 basis points from 21,183.34 to 21,239.52 points.

Similarly, the market capitalisation of the listed equities increased by 0.3 per cent or N18bn to N6.780tn up from N6.762tn recorded the preceding day.

The NSE-30 Index also rose marginally by 0.1 per cent or 1.11 basis points from 965.12 points recorded the day before, to 966.23 points.

However, the NSE Consumer Goods Index and the NSE Banking Index recorded marginal losses, falling by 0.2 per cent and 1.3 per cent to close at 1,721.93 points and 297.44 basis points in that other.

Market analysts traced the development to renewed interest by some investors in the market, who were taking advantage of the low prices of shares.

According to them, this was evident in the gains recorded in the share prices of some highly capitalised stocks since Monday.

Intercontinental WAPIC Insurance Plc recorded the highest price appreciation of the day, rising by five per cent or three kobo to close at 63 kobo per share.

Cement Company of Northern Nigeria Plc gained 4.9 per cent or 24 kobo to close at N5.11 per share.

Ashaka Cement Plc and May and Baker Nigeria Plc rose by 4.9 per cent and 4.8 per cent, to close at N8.98 and N1.95 per share respectively, while Longman Plc and Transnational Incorporated Plc also gained 4.8 per cent and N4.7 per cent to close at N2.40 and N1.33 per share respectively.

Airservice and Logistics Plc, on the other hand, lost the highest price for the day, shedding five per cent or eight to close at N1.52 per share.

Dangote Flour Mills Plc also lost five per cent or 28 kobo to close at N5.32 per share.

MRS Oil Plc, Academy Press Plc, Berger Paints Plc and National Salt Company of Nigeria Plc lost 4.9 per cent each to close at N34.68, N1.72, N9.08 and N4.29 per share in that order.

The banking sub-sector maintained its lead on the activity chart, accounting for 64 per cent of total volume traded.

In the sub-sector, 89.656 million shares, worth N626m were exchanged by investors in 1,820 deals.

Source: Punch/Udeme Ekwere