Nigerian stock market daily report: Investors’ gain ₦1.82 trillion on Tuesday

The Nigerian Exchange’s equities market recorded it’s highest single day gain yet in 2024, as a scramble for stocks pushed investors’ gain to ₦1.82 trillion.

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The benchmark All-Share Index advanced by 3.93%, adding 3,330.20 points to close the day at 87,971.09.

The market capitalization grew by the same percentage points, rising from ₦48.13 trillion to ₦46.31 trillion.

Maximum gains by the highly capitalized industrial sector companies influenced the magnitude of the gains on Tuesday. While the share price of Dangote Cement Plc (NGX: DANGCEM) rose by 9.84% to close at ₦411.90, while that BUA Cement Plc (NGX: BUACEMENT) and Lafarge Africa Plc (NGX: WAPCO) rose by 9.96% and 10.0% respectively to ₦112.65.

Activity Level

The activity level improved on Tuesday as the volume of shares trade, value of shares trade and the no of deals done all increased.

While the volume of shares traded increased by 34.81%, the value of shares traded and no of deals done increased by 45.46% and 8.71% respectively.

By the end of trading, 1.08 billion shares valued at ₦16.04 billion had exchanged hands in 14,835 deals.

Shares of Jaiz Bank Plc (NGX: JAIZBANK), Aiico Insurance Plc (NGX: AIICO) and FCMB Group Plc (NGX: FCMB) were the most traded stocks by volume with 15063 million, 99.05 million and 67.59 million shares respectively.

Shares of NASCON Allied Industries Plc (NGX: NASCON), Nigerian Breweries Plc (NGX: NB) and United Bank for Africa Plc (NGX: UBA) were the most traded by value, with their shares worth ₦1.09 billion, ₦1.08 billion and ₦956.00 million respectively exchanging hands.

Top gainers and losers

In Monday’s trading session, 77 stocks advanced against 10 decliners.

The top five gainers were;

1. Nigerian Breweries Plc (NGX: NB): It gained 10% to close at ₦41.25.
2. NASCON Allied Industries Plc (NGX: NASCON): It gained 10% to close at ₦71.50.
3. FTN Cocoa Processors Plc (NGX: FTNCOCOA): It gained 10% to close at ₦2.20.
4. Honeywell Flour Mill Plc (NGX: HONYFLOUR): It gained 10% to close at N4.40.
5. Universal Insurance Plc (NGX: UNIVINSURE): It gained 10% to close at ₦0.44.

The top five losers on were;

1. Royal Exchange Plc (NGX: ROYALEX): It lost 8.16% to close at ₦0.90.
2. Multiverse Mining and Exploration Plc (NGX: MULTIVERSE): It lost 6.59% to close at ₦17.00.
3. Ellah Lakes Plc (NGX: ELLAHLAKES): It lost 4.9% to close at ₦3.38.
4. Oando Plc (NGX: OANDO): It lost 3.60% to close at ₦12.05.
5. UAC of Nigeria Plc (NGX: UACN): It lost 3.13% to close at ₦15.50.

All the five indices under our watch closed positively.

1. Banking Index: The gained 4.35% to close 1,099.45 points (YTD: +22.54%).
2. Industrial Index: The industrial index gained 9.72% to close at 3,372.58 points (YTD: +24.35%).
3. Consumer Goods Index: The index advanced by 2.97% to +1,344.61 points (YTD: 19.92%).
4. Oil & Gas Index: It gained 0.08% to 1,08.98 points (YTD: +1.53%).
5. Insurance Index: The index advanced by 5.80% to 448.08 points (YTD: +39.30%).

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur