Investors gain N1.52 trillion as stock market sustains bullish trend
The stock market sustained its bullish trend on Tuesday, with investors gaining N1.518 trillion following renewed buying interest in large and medium-capitalised stocks.
Market capitalisation rose by N1.518 trillion to close at N161.774 trillion, compared with N160.256 trillion recorded on Monday.
Similarly, the All-Share Index gained 1,926.13 points, or 0.77 per cent, to close at 252,411.67 against 250,485.54 posted in the previous session.
The rally was driven by increased demand for stocks such as Union Homes Real Estate Investment, Ikeja Hotel, University Press and Zichis Agro Allied Industries.
Market breadth closed positive with 45 gainers and 34 losers, while the year-to-date return improved to 62.20 per cent.
Union Homes Real Estate Investment, Ikeja Hotel and University Press topped the gainers’ chart with 10 per cent growth each, closing at N84.70, N39.60 and N4.40 per share respectively.
Zichis Agro Allied Industries gained 9.98 per cent to close at N40.35, while FTN Cocoa Processors appreciated by 9.97 per cent to settle at N10.04 per share.
On the losers’ chart, The Initiates Plc led with a 9.65 per cent decline, closing at N1.03 per share.
Custodian Investment fell by 9.52 per cent to close at N81.25, while NPF Microfinance Bank declined by 8.33 per cent to settle at N5.50 per share.
Also, AIICO Insurance shed 7.74 per cent to close at N4.41, while Honeywell Flour declined by 5.41 per cent to settle at N17.50 per share.
Trading activity improved, with total volume traded rising by 36.48 per cent to 2.03 billion shares, valued at N87.71 billion, across 80,888 deals.
Computer Warehouse Group led the volume chart with 432.90 million shares traded, accounting for 21.35 per cent of total market turnover.
United Bank for Africa dominated the value chart with transactions worth N16.78 billion, representing 19.13 per cent of total value traded during the session.
(NAN)
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