STOCK MARKET GAINS N332 BILLION AS INVESTORS’ PORTFOLIOS RISE
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By Aishat Momoh. O.
The Nigerian stock market on Tuesday extended its upward trend, adding N332 billion to investors’ portfolios amid sustained interest in key equities.
The market capitalisation opened at N106.162 trillion and closed at N106.494 trillion, representing a gain of 0.31 per cent. Similarly, the All-Share Index rose by 516.93 points, or 0.31 per cent, to close at 165,901.57 points.
Market sentiment remained bullish, with 35 gainers recorded against 34 decliners. Leading the gainers were Industrial and Medical Gases, Union Dicon Salt, Zichis Agro Allied Industries, and Austinlaz, each surging 10 per cent to close at N34.65, N9.90, N5.06, and N4.07 per share, respectively. RT Briscoe also gained 9.95 per cent, finishing at N9.50 per share.
On the other hand, Cutix and Omatek Ventures topped the losers’ chart with a 10 per cent decline each, closing at N3.15 and N2.43 per share. Union Homes Real Estate Investment fell 9.95 per cent to N76.90, Sunu Assurances shed 9.94 per cent to N4.62, while Deap Capital Management declined 9.93 per cent, ending at N7.62 per share.
A total of 736.4 million shares worth N24.7 billion were traded across 46,026 transactions, compared with 762.8 million shares valued at N18.4 billion exchanged in 55,374 deals in the previous session. This represents a 3.45 per cent drop in volume, a 17 per cent decline in deals, but a 29 per cent increase in market value.
GTCO recorded the highest trading activity, with 65.90 million shares valued at N6.53 billion, accounting for 8.95 per cent of total volume and 26.47 per cent of total market value for the day.
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