Market capitalization gains N28 billion in stock market

Bullish sentiment returned to the Nigerian stock market on Tuesday after investor interest in Zenith Bank, Union Bank and Flour Mills of Nigeria led to its first gain of the week.

Specifically, the market cap gained N28.10 billion or 0.16 percent to close on Tuesday at N26.811 trillion from N26.768 trillion.

The All-Share Index also rose by 80.03 points or 0.16 percent and closed at 49,709.46, against 47,629.43 which was reached on Tuesday.

Accordingly, the year-to-date return rose to 16.71 percent.

Overall, market size closed negatively as 10 stocks rose against 22 that fell.

Cutix propped up the gainers’ chart by 7.5 percent to close at N2.15 per share.

Lasaco Assurance followed with a gain of 5.88 percent to close at N1.08, while Union Bank rose 3.45 percent to close at N6 per share.

Academy Press rose 2.97 percent to close at N2.08, while BUA Cement appreciated 3.63 percent to close at N54.60 per share.

On the other hand, UPDC Real Estate Investment Trust led the losers chart by 9.86 percent to close at N3.20 per share.

PZ Cussons Nigeria followed with 9.27 percent, closing at N9.30 per share.

Courtville Business Solutions lost 8.93 percent to close at 51k, while Japaul Gold and Ventures each lost 8.11 percent to close at 34k.

WAPIC also fell 6.82 percent to 41k per share.

Also, total traded volume decreased 25.02 percent to 204.16 million units worth N1.64 billion and exchanged in 3,643 deals.

Transactions in the shares of FBN Holdings topped the chart of activities with 36.83 million shares worth N396.18 million.

ETranzact International followed with 30 million shares worth N68.4 million while United Bank for Africa (UBA) traded 20.52 million shares worth N143.68 million.

Access Holdings traded 20.09 million shares worth N171.5 million, while Eterna traded 12.31 million shares worth N86.13 million.


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