The Nigerian Exchange Limited continued to trade positively on Tuesday as investor wealth rose by N264 billion, nearly matching Monday’s gain of N263 billion.
The Punch reported that the market capitalization and the All-Share Index, which tracks changes in share prices across all publicly traded firms, both increased by 0.71 percent to close at N37.413 trillion and 68,359.22 points, respectively.
The news of Dr. Yemi Cardoso’s nomination as governor of the Central Bank of Nigeria coincides with the start of betting on the local market and economy by investors.
At the end of the trading day on Tuesday, there were 676.74 shares exchanged, an increase of 31.33 percent to 676.74 million, the number of deals dropped by 8.35 per cent to 7,659 and the value of trade depreciated by 33.97 per cent to N5.89bn.
The fact that there were 36 gainers vs 27 losers indicates that market sentiments were also positive.
Berger Paints Plc, which increased by 9.95% to finish the market at N11.60, is one of the best stocks for investors.
Oando Plc’s stock increased by 9.92% to close at N13.30 after the company released its audited results for 2021.
BUA Foods’ stock increased by 6.32% to close at N196.70, PZ’s shares increased by 1.45 % per unit to close at N20, and GTCO Plc’s stock rose by 0.43 % to close at N35.40.
Leading the list of losses were SCOA Plc, whose shares fell 10% to finish at N1.24, Unilever’s shares down 8.28% to settle at N13.30, and United Bank for Africa Plc, whose shares fell 1.96% to close at N17.50.
The most actively traded stock on Monday was UBA Plc. Accesscorp’s shares declined by 0.29 percent to complete trading at N17.40, and FBN Holdings Plc dropped 1.69 percent to conclude at N17.40.
