Nigerian stock market daily report: local burse gains 1.45% to continue positive trajectory

The Equities segment of the Nigerian Exchange continued its positive trajectory on Tuesday, advancing by 1.45% to make it two days of gains in two days of trading this week.

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The benchmark All-Share Index (NGX ASI) added 1,479.60 points to close trading at 102,044.84 points.

Equities market capitalization appreciated by the same 1.45% percentage points, adding  ₦836 billion to Investors’ wealth to settle at ₦58.53 trillion.

Year to date gains improved to 38.45%, with investor’s wealth having grown by ₦17.61 trillion

United Bank for Africa Plc (NGX: UBA) emerged as the top gainer, advancing by 10%. Tantalizers Plc (NGX: TANTALIZER) was the biggest loser, with it’s share price shading 7.89%.

Activity Level

The activity level was mixed on Tuesday with the volume of shares traded increasing  while the value of shares traded decreased.

While the volume of shares traded increased by 29.51%,  the value of shares traded decreased by 16.76% and no of deals done increased by 1.54%.

At the end of trading, 565.78 million shares valued at ₦14.23 billion had exchanged hands in 11,519 deals.

Shares of Transnational Corporation Plc (NGX: TRANSCORP),  Access Holdings Plc (NGX: ACCESSCORP) and Guaranty Trust Holding Company Plc (NGX: GTCO) were the most traded stocks by volume with 170.71 million, 48.57 million and 39.03 million shares respectively.

Shares of Transcorp Power Plc (NGX: TRANSPOWER), Transnational Corporation Plc (NGX: TRANSCORP) and Guaranty Trust Holding Company Plc (NGX: GTCO) were the most traded by value, with their shares worth ₦3.50 billion, ₦3.13 billion and ₦1.65 billion respectively exchanging hands.

Top gainers and losers

In the day’s trading session, 37 stocks advanced against 14 decliners.

The top five gainers were;

1. United Bank for Africa Plc (NGX: UBA): It gained 10% to close at ₦25.30.
2. MTN Nigeria Communications Plc (NGX: MTNN): It gained 9.98% to close at ₦243.50.
3. Julius Berger Nig. Plc (NGX: JBERGER): It gained 9.71% to close at ₦61.00.
4. Access Holdings Plc (NGX: ACCESSCORP): It gained 9.51% to close at ₦22.45.
5. Veritas Kapital Assurance Plc (NGX: VERITASKAP): It gained 9.38% to close at ₦0.70.

The top five losers were;

1. Tantalizers Plc (NGX: TANTALIZER): It lost 7.89% to close at ₦0.35.
2. NASCON Allied Industries Plc (NGX: NASCON): It lost 6.77% to close at ₦53.70.
3. Morison Industries Plc (NGX: MORISON): It lost 6.62% to close at ₦1.41.
4. C & I Leasing Plc (NGX: CILEASING): It lost 6.45% to close at ₦3.48.
5. Cutix Plc (NGX: CUTIX): It lost 6.30% to close at  ₦2.53.

All but two of the five indices under our watch advanced on Monday.

1. Banking Index: The index gained 5.36% to close at 923.42 points (YTD: +2.92%).
2. Industrial Index: The industrial lost marginally to close at 4,798.53 points (YTD: +76.92%).
3. Consumer Goods Index: The index lost 0.48% to 1,619.54 points (YTD: +44.44%).
4. Oil & Gas Index: It gained 0.12% to close  at 1,290.46 points (YTD: +23.72%).
5. Insurance Index: The index gained 1.18% to close at 361.75 points (YTD: +12.46%).

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur