Stock market reverses previous day’s loss, gains N21bn
The Nigerian equity market on Tuesday
rallied 0.19 per cent to reverse previous day negative sentiment ahead
of temporary closure of its trading floor that begins today.
The market breadth closed positively, recording 19 gainers as against 10 losers.
The NSE on Monday said that in order to
give its dealing members enough notice, effective Wednesday, March 25,
all its trading floors would be temporarily closed, adding that remote
trading would continue and the NSE staff would be available on all its
digital platforms to provide support.
Consequently, the All-Share Index
appreciated by 40.18 basis points or 0.19 per cent to close at 21,741.16
index points as against 21,700.98 recorded in the previous trading
session. Market capitalisation of equities grew by N21bn from N11.308tn
the previous day to N11.329tn as market sentiment remained on the
Meanwhile, a turnover of 330.1 million shares exchanged in 4,561 deals was recorded in the day’s trading.
The premium subsector was the most
active (measured by turnover volume); with 160.4 million shares
exchanged by investors in 2,156 deals.
Volume in the subsector was largely driven by activities in the shares of Access Bank Plc and Zenith Bank Plc.
Also, banking subsector boosted by the
activities in the shares of GTBank Plc and Fidelity Bank Plc followed
with a turnover of 107.7 million shares in 988 deals.
A further analysis of the day’s trading
showed that in percentage terms, the NPF MFB Plc topped the day’s
gainers’ table with 9.52 per cent to close at N1.15 per share while
Stanbic IBTC Plc followed with 9.43 per cent to close at N26.10 per
share. Transcorp Plc added 8.93 per cent to close at 61 kobo per share.
On the flip side, Caverton Plc led the
losers with a drop of 10 per cent to close at N2.25 per share while
Conoil Plc shed 9.93 per cent to close at N13.15 per share. Nascon Plc
trailed with 9.57 per cent to close at N8.50 per share.
Source: Punchng, March 25, 2020