The rally in the equities segment of the Nigerian Stock Exchange, which began last week, continued on Tuesday, with major indices closing positive.
The market capitalisation of the listed equities gained N122bn or 1.3 per cent, from N9.374tn on Monday to close at N9.495tn.
Similarly, the NSE’s All-Share Index was up by 377.25 basis points or 1.3 per cent to close at 29,686.95 points, up from 29,309.70 points recorded the previous day.
The NSE-30 Index rose by 1.4 per cent or 19.21 basis points from 1,396.99 points to close at 1,416.20 points, while the consumer goods index gained 0.7 per cent or 6.29 points to close at 864.86 points.
The NSE banking index recorded the highest appreciation, rising by three per cent or 11.19 basis points to close at 389.82 points. The Insurance index gained 1.9 per cent or 2.44 points to close at 128.59 points.
A total of 50 stocks recorded price appreciation, while eight stocks dropped prices.
United Bank for Africa Plc gained the highest, rising by 9.83per cent or 59 kobo to close at N6.59 per share.
Sterling Bank Plc followed with a gain of 8.64 per cent or 19 kobo to close at N2.39 per share, while Red Star Express Plc and Academy Press Plc gained 8.3 per cent and 7.8 per cent to close at N3.25 and N1.92 per share respectively.
Diamond Bank Plc and Fidelity Bank Plc also gained 7.8 per cent 7.7 per cent to close at N6.60 and N3.36 per share in that order.
On the other hand, Cutix Plc recorded the highest loss for the day, shedding five per cent or eight kobo to close at N1.52 per share.
BOC Gases Plc and UTC Plc lost 4.8 per cent each to close at N6.24 and 79 kobo per share, while John Holt Plc and Unilever Nigeria Plc fell by 4.6 per cent and 2.2 per cent to close at N2.65 and N44 per share in that order.
The Banking sub-sector continued to maintain its lead on the activity chart, as trading in the sub-sector accounted for 52 per cent of total volume traded on Thursday.
Turnover in the sub-sector was driven by trading in the shares of Diamond Bank Plc, UBA, Fidelity Bank Plc and Skye Bank Plc.
In all, investors staked N1.624bn on 253.99 million shares, in 4,106 transactions.
Source: Punch (written by Udeme Ekwere)
