The Nigerian equity market gained N35 billion after the closing of trade on Tuesday on the Nigerian Exchange Limited.
According to The PUNCH, this represented an increase in the figure of gains from Monday, which was almost N9 billion.
The All-Share Index, which tracks the movement of stocks on the exchange, and market capitalization both increased by 0.9% to close at 72,470.1 basis points and N39.656 trillion, respectively.
The stocks of United Bank for Africa, Zenith Bank Plc, Access Holdings Plc, Guaranty Trust Holding Company Plc, and FBN Holdings were the primary drivers of the day’s movement.
Market Breadth, a measure of market sentiment, increased compared to the previous day, with 36 gainers and 13 losers.
Transaction volume climbed to 411.21 million units from 324.25 million trades worth N6.94 billion from 6,870 transactions. At the end of today’s trading session, there were 121 stocks exchanged.
The stocks of Infinity Trust Mortgage Bank and Caverton Offshore Support Plc led the gainers’ chart, rising 10% to close at N3.41 and N1.76 per share, respectively.
Northern Nigerian Flour Mills gained 9.42 percent to N42.20, RT Briscoe climbed 9.09 percent to N0.60, and The Initiates Plc, which has experienced higher activity in its shares this week, gained 8.26 percent to N1.18.
According to NGX filings, DVCF Oil & Gas Plc, a substantial shareholder in the waste manager and industrial cleaners firm, sold about 1.70 million units of its shares at N1.15 per unit earlier this month, and another substantial shareholder, Afolayan Olajide, purchased two million units of its shares at N1.15 each. The cost of the shares is around N2.3 million.
On the losers’ list were Omatek, which lost 10% to close at N0.63 per unit, Prestige Assurance Plc, which lost 9.62% to close at N0.47, ETranZact, which lost 9.60% to close at N5.65, Stanbic Holdings, which lost 9.08% to close at N59.10, and UPDC, which lost 9.02% to close at N1.21per unit.
The most active stock of the day was UPDCREIT, which had 42,029,284 units worth N187.03m traded in 50 trades. UBA had 34,658,943 units worth N848.47m traded in 491 trades, while VeritasKap had 27,706,519 units worth N9.864m traded in 29 trades.
AccessCorp had 27,567,821 units worth N611.80 traded in 365 transactions, while FCMB had 25,593,880 units worth N183.17m traded in 147 transactions.
