Nigerian Market Reboots for Rally, Investors Gain N1.09trn
The Nigerian stock market rebooted for the next rally on Tuesday, posting a N1.086 trillion profit, following gains in some mid- and large-cap stocks.
Investors’ renewed interest in John Holt, Consolidated Hallmark Holdings, Legend Interest, Airtel Africa, Zichis Agro Allied Industries and 32 other advancing stocks drove the market higher.
The market capitalisation, which opened at N127.750 trillion, added N1.086 trillion, or 0.85 per cent, to close at N128.836 trillion.
The All-Share Index also rose by 0.85per cent or 1,691.86 points to settle at 200,705.88 points, against 199,014.02 points recorded on Monday.
Consequently, the Year-to-Date (YTD) return climbed to 28.98 per cent while the e market breadth also closed positive with 37 gainers and 23 losers.
Airtel Africa, John Holt, Legend Internet and Consolidated Hallmark Holdings led the gainers’ chart by 10 per cent each, settling at N2,497, N14.95, N6.60 and N4.95 per share respectively.
Also, Zichis Agro Allied Industries increased by 9.97 per cent, closing at N10.37 per share.
Conversely, NPF Micro-finance Bank led the losers’ chart by 6.29 per cent, finishing at N6.56, Royal Exchange trailed by 5.32 per cent, ending the session at N1.78.
Computer Warehouse Group dipped by 4.82 per cent, settling at N20.75 per share. Similarly, Veritas Kapital shed by 4.21 per cent, closing at N2.05 and UPDC declined by 3.88 per cent, settling at N4.95 per share.
NGX trading activity revealed an increase in the market volume and value, with a decline in the deals.
A total of 1.3 million shares worth N65.3 billion were traded in 89,949 transactions, compared with 848.8 million shares valued at N53.3 billion that was exchanged across 139,458 transactions earlier.
Access Corporation recorded the highest volume, with 266.79 million shares traded, accounting for 20.66 per cent of the day’s total.
Meanwhile, GTCO recorded the highest volume, with N19.39 billion traded, accounting for 29.68 per cent of the day’s total.
The sectoral performance was largely bullish, with 4 major indices closing higher. The Insurance (+2.14%) index was the biggest gainer, propelled by price appreciations in WAPIC (+8.06%) and CONHALLPLC (+10.00%).
The Commodities (+0.64%), Consumer Goods (+0.53%) and Banking Index (+0.50%) also posted gains, helped by buying interests in PRESCO (+5.81%), INTBREW (+5.51%) and GTCO (+5.71%), respectively. The Oil & Gas and Industrial Goods indices closed flat. Zenith Bank Hits 52-Week High, Market Cap Now N4.2trn
