Nigerian equity market records 0.12 per cent growth

The market capitalisation of the Nigerian Stock Exchange, NSE, on Tuesday appreciated by N11 billion or 0.12 per cent to close at N9.360 trillion due to marginal gains recorded by some blue chips.

The News Agency of Nigeria reports that this was against N9.349 trillion achieved on Monday.

Also, the All-Share Index improved by 32.39 points or 0.12 per cent to close at 27,252.48 compared with 27,220.09 posted on Monday.

The upturn was largely boosted by value appreciation recorded by some capitalised stocks such as Okomu Oil Palm, Guinness Nigeria, PZ Cussons and GT Bank, amongst others.

An analysis of the price movement chart showed that Okomuoil led the gainers’ table, growing by N3.95 to close at N4.70 per share.

Guinness came second with a gain of N2.09 to close at N82.09 and Guaranty Trust Bank gained 30k to close at N23.80 per share.

Eterna increased by 28k to close at N3.09 and PZ industries appreciated by 25k to close at N17.75 per share.

Conversely, International Breweries topped the losers’ table, dropping by 92k to close at N19 per share.

UACN trailed with a loss of 35k to close at N19.20 and Oando lost 24k to close at N4.70 per share.

Union Bank of Nigeria declined by 22k to close at N4.30, while UAC Property Development dipped 16k to close at N3.09 per share.

NAN also reports that Dunlop emerged the most traded stock with an exchange of 27.90 million shares worth N13.95 million.

Sterling Bank trailed with 25.89 million shares valued at N25.29 million and Transcorp sold 16.12 million shares worth N14.11 million.

FCMB Group transacted 13.58 million shares valued at N14.73 million, while Unic Insurance traded 11.35 million shares valued at N5.67 million.

In all, investors staked N1.31 billion on 187.60 million shares traded in 3,065 deals.

This was against a total of 219.89 million shares valued at N1.88 billion transacted in 3,933 deals on Monday.

Source: NAN