Investors at NGX Smile as Tuesday Trading Closed With N35 Billion Gain

The Nigerian stock market finished yesterday green as the market gained 0.09% following investors' stakes in MTN Nigeria Communications Plc and United for Africa Plc (UBA) and 34 other stocks.

Investors on Tuesday gained N35 billion at the close of the trading session; this showed a significant increase from Monday records, which stood at N9 billion gain at the close of the trading session on the  Nigerian Exchange Limited on Monday.

The Nigerian Exchange Limited All-Share Index gained 65.19 basis points or 0.09% to close at 72,470.10 basis points from 72.404.91 basis points it opened.  Market capitalization rose by N36 billion to close at N39.657 trillion from N39.621 trillion from how the market closed the previous day.

According to the analysis, the stock market's month-to-date and year-to-date returns increased to +1.6% and +41.4%, respectively.

Also, the NGX Banking Index increased by 1.9%, the NGX Insurance Index increased by 0.4%, and the NGX Industrial Goods Index increased by 0.2%, while the NGX Oil & Gas Index finished flat.

Conversely, the NGX Consumer Goods index dropped by 0.2%, the sole loser for the day.

MTN Nigeria Communication and UBA gained 0.6% and 3.1%, respectively.

As measured by market breadth, market sentiment was positive, as 36 stocks gained relative to 13 stocks lost. 

Top Gainers: Infinity Trust Mortgage Bank and Caverton Offshore Support Group finished with the highest gain of 10% each to close at N3.41 and N1.76, respectively, while NNFM followed with a gain of 9.42% to close at N42.40 per share. R.T. Briscoe Nigeria increased by 9.09% to close at 60 kobo, while The Initiates (TIP) added 8.26% to close at N1.18 per share.

Top Losers: Omatek Ventures led with 10% to close at 63 kobo per share. Prestige Assurance followed with 9.62% to close at 47 kobo, while eTranzact International shed 9.60% to close at N5.65 per share. Stanbic IBTC Holdings lost 9.08% to close at N59.10, while UPDC dropped by 9.02% to close at N1.21 per share.

From the analysis, the total volume traded increased by 26.8% to 411.21 million units, valued at N6.95 billion, and exchanged in 6,870 deals. 

According to THISDAYLIVE, Transactions in the shares of UPDC Real Estate Investment Trust led the activity with 42.029 million shares worth N187.031 million. UBA followed with 34.659 million shares valued at N848.471 million, while Veritas Kapital Assurance traded 27.707 million shares valued at N9.865 million.

Access Holdings traded 27.568 million shares worth N611.805 million, while FCMB Group traded 25.594 million shares worth N183.177 million.