High Cap Stocks Drive N235bn Gain On NSE

The equity segment of The Nigerian Stock Exchange (NSE) continued its bull run on Tuesday, adding N235.304 billion, with large capitalised stocks among which are; Dangote Cement, Eterna, Cadbury Nigeria, Zenith Bank and United Bank for Africa.

Specifically, the market capitalisation rose by 1.20 per cent to close at N19.805 trillion from N19.570 trillion achieved on Monday.

Also, the All-Share Index grew by 450.21 points or 1.20 per cent to close at 37,893.61 compared with 37,443.40 recorded on Monday. Consequently, month-to-date and year-to-date gain increased to 8.1 per cent and 41.2 per cent, respectively.

The market capitalisation also drew support from a rise in Industrial Index by 3.35 percent to 1,808.79 index points.

The market posted a negative breadth as 15 gainers emerged against 22 losers.

Eterna Oil led on the top five gainers on the NSE, appreciating by 10 percent to close at N4.51. FTN Cocoa added up 8.82 percent to end day’s trading at N0.74. Japaul advanced by 8.11 percent to N0.40. Dangote Cement rose to N245, notching up 6.34 percent in the process. Courteville completed the top 5, climbing up by 4.76 percent to N0.22 per share.

Conversely, Consolidated Hallmark topped the NSE losers’ chart, declining by 10 percent to close at N0.27. Red Star Express shed 9.62 percent to end today’s trade at N3.10. ABC Transport fell to N0.30, losing 9.09 percent. John Holt slumped to N0.51, recording 8.93 percent depreciation. Royal Exchange closed at N0.23, going down by 8 percent.

442.221 million shares valued at N10.288 billion were traded on the NSE in 4,948 deals.

Zenith was the most active stock on the NSE with 59.024 million of its stocks worth N1.445 billion traded in 455 deals. 39.269 million units of Mansard shares priced at N40.121 million exchanged hands in 338 transactions. GTB had 38.218 million shares valued at N1.261 billion traded in 273 deals. Japaul traded 33.050 million shares estimated at N13.010 million in 170 transactions. FBN Holdings traded 29.930 million shares valued at N209.454 million in 202 deals.