Nigeria’s local bourse recorded another day of gains, as the All-Share Index gained 0.03% to close trading at 47,246.90 points on Tuesday.
Despite the high number of gainers on the day, the equities market could only muster +0.03% gain because the gainers table was dominated by low cost stocks.
Investors’ saw their wealth grow by N6.99 billion, as the market capitalization rose by 0.03% to settle at N25.46 trillion.
The Share price of Niger Insurance Plc topped the gainers table, as trading in the shares of the company resumed following the lifting of suspension on its trading by The NGX.
Learn Africa Plc shares also had a good day, as Investors continues positioning on the stock following the news of a possible merger & acquisition involving the company.
Activity Level
The activity level improved on Monday, as both volume and value of traded shares increased.
421.82 million units of shares valued at N5.15 billion was traded in 5,992 deals. While the volume of shares traded increased by 0.09%, the value of traded shares increased by 22.14%.
UCAP, TRANSCORP and ZENITHBANK Shares were the most traded by volume with 66.09mn, 53.53mn, and 51.63mn shares respectively.
Shares of ZENITHBANK, UCAP and SEPLAT were the top three most traded shares by value. Shares worth N1.39bn, N889.15mn, and 775.50mn of ZENITHBANK, UCAP and SEPLAT respectively were exchanged.
Performance of Indices under our watch
The performance of the five indices under our watch are as below;
- Banking Index: -0.08% (452.74 Points)
- Industrial Goods Index: 0.00% (2131.48 Points)
- Consumer Goods Index: 0.00% (594.78 Points)
- Oil & Gas Index: 0.00% (409.32 Points)
- Insurance Index: -0.61% (187.07 Points)
The Year-to-Date performance of the All-Share Index increased to +11.25% following Monday’s loses.
Investor Sentiment
Investors sentiment as measured by market breadth (advance/decline ratio) remains strong at 1.6x, as 29 stocks gained while 18 stocks stocks declined, from 31 gainers and 17 losers recorded on Monday.
Top Gainers:
- LEARNAFRCA gained 10.00% to close at N2.42
- NIGERINS gained 1000% to close at N0.22
- SCOA gained 9.79% to close at N2.58
- CUTIX gained 9.65% to close at N2.84
- MAYBAKER gained 9.65% to close at N5.00
Top Losers:
- ELLAHLAKES lost 9.88% to close at N3.83
- VERITASKAP lost 8.00% to close at N0.23
- COURTVILLE lost 5.56% to close at N0.51
- GUINNESS lost 5.34% to close at N70.05
- NEIMETH lost 4.76% to close N1.80
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
