Stock market extends gain by N332bn
The stock market on Tuesday extended its gain, adding N332 billion to investors’ portfolios.
This was primarily driven by sustained interest in stocks such as Austinlaz, Industrial and Medical Gases, Union Dicon Salt, Zichis Agro Allied Industries, RT Briscoe, and 30 other equities.
The market capitalisation, which opened at N106.162 trillion, closed at N106.494 trillion, recording a gain of 0.31 per cent or N332 billion.
Similarly, the All-Share Index rose from 165,384.64 to 165,901.57, an increase of 0.31 per cent or 516.93 points.
Also, market sentiment closed bullish, with 35 gainers against 34 decliners.
Industrial and Medical Gases, Union Dicon Salt, Zichis Agro Allied Industries and Austinlaz led the gainers’ chart by 10 per cent each, closing at N34.65, N9.90, N5 06 and N4.07 per share respectively.
RT Briscoe gained by 9.95 per cent, finishing at N9.50 per share.
Conversely, Cutix and Omatek Ventures led the losers’ chart by 10 per cent each, settling at N3.15 and N2.43 per share.
Also, Union Homes Real Estate Investment dropped by 9.95 per cent, ending the session at N76.90, Sunu Assurances shed by 9.94 per cent, closing at N4.62, while Deap Capital Management fell by 9.93 per cent, finishing at N7.62 per share.
A total of 736.4 million shares valued at N24.7 billion were exchanged across 46,026 transactions, compared with 762.8 million shares worth N18.4 billion traded earlier in 55,374 deals.
This revealed a 3.45 per cent decline in volume, a 17 per cent fall in deals, and a 29 per cent increase in market value.
GTCO recorded the highest volume and value, with 65.90 million shares traded at N6.53 billion.
This accounted for 8.95 per cent of the day’s total volume and 26.47 per cent of the day’s total value, respectively.
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