Bulls return as market gains 0.03%

After five consecutive trading sessions of extended losses, positive sentiment returned on Tuesday as the Nigerian Stock Exchange All-Share Index advanced by 0.03 per cent to 40,164.86 points.

Also, the market capitalisation recorded a marginal gain of N5.64bn to close at N21.014tn

Hence, the Year-to-Date loss of the ASI improved to -0.26 per cent, although the market recorded 16 gainers against 24 losers.

Notably, investors’ sentiment was bullish on Zenith Bank’s stock, as the tier-1 bank increased its dividend payout by N0.20K to N2.70k.

Share prices of Flour Mills of Nigeria, Guinness Nigeria, Guaranty Trust Bank and United Bank for Africa advanced by 6.16 per cent, 4.07 per cent, 0.82 per cent and 1.19 per cent respectively.

Sectoral performance was mixed as the NSE banking index rose by 1.68 per cent, while others moved in random directions.

While the insurance and consumer goods indices declined by 0.92 per cent and 1.61 per cent, the oil and gas and industrial indices closed flat.

Meanwhile, trading activity was upbeat as total deals, volume and value of stocks traded rose.

Total volume of trades rose by 16.80 per cent to 337.95 million units valued at N3.85bn in 5,232 deals.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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