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Trading Remains Bullish on NSE on Strong Buying Interests

By Dipo Olowookere

The Nigerian Stock Exchange (NSE) further closed on a positive note on Tuesday, appreciating by 0.83 percent to leave the Year-to-Date returns to 2.42 percent.

The All-Share Index (ASI) gained 322.72 points to finish at 39,167.04 points, while the market capitalisation went up by N116.9 billion to settle at N14.188 trillion.

Business Post reports that the Financial Services sector led the activity chart yesterday with 255.7 million shares traded at N2.9 billion, while the Consumer Goods industry trailed with 65.4 million shares sold for N1.7 billion.

United Capital topped the activity chart with a total of 82.7 million shares traded by investors at N262.7 million.

It was followed by Dangote Sugar, which sold 56.9 million units worth N1.2 billion, and Africa Prudential, which exchanged 49.6 million equities valued at N213.2 million.

GTBank traded 45.3 million shares for N1.9 billion, while UBA sold 13.6 million equities worth N150.8 million.

At the close of transactions on Tuesday, a total of 341.5 million shares exchanged hands in 3,769 deals worth N5.2 billion in contrast to the 603.2 million equities sold on Monday in 3,832 deals valued at N3.9 billion.

This showed that the total volume of shares sold yesterday depreciated by 43.39 percent, while the value increased by 33.57 percent.

The stock market recorded a total of 27 price gainers and 21 price losers on Tuesday, leaving the market breadth to end positive.

Seplat topped the price gainers list with N57.90k added to its share value to settle at N769 per share.

It was followed by Nestle Nigeria, which gained N44.80k to finish at N1495 per share, and Mobil Oil Nigeria, which went up by N8.70k to close at N183 per share.

Dangote Cement increased by N3.20k to end at N239 per share, while Cadbury Nigeria rose by 50k to wrap the day at N13 per share.

On the flip side, Guinness Nigeria topped the laggards’ table with N2.75k of its share price lost to close at N97 per share.

NASCON fell by 90 kobo to finish at N23.10k per share, while Nigerian Breweries also went down by 90 kobo to end at N117.10k per share.

Flour Mills depreciated by 70 kobo on Tuesday to settle at N32.30k per share, while Dangote Sugar crashed by 40 kobo to close at N19.50k per share.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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