Nigerian stock market sustains bullish run

Trading activity on the floor of the Nigerian Exchange Limited continued on a bullish trend on Tuesday, as the All-Share Index moderated by 0.08 per cent to close at 38,256 points.

The market capitalisation fell further to N19.94trn after opening at N19.97trn.

The year-to-date loss of the ASI worsened to -5 per cent, even as 17 stocks gained and 12 stocks lost.

Risk-off sentiments continue to dominate the market amid sell-offs in banking and insurance tickers, hence the share prices of Guaranty Trust Bank, LASACO Assurance, FBN Holdings and AIICO Insurance declined by 1.21 per cent, 7.14 per cent, 1.38 per cent and 4.96 per cent respectively.

Two of the five indices tracked closed in negative zone, while the others moved in mixed directions.

The banking and insurance indices fell by 0.47 per cent and 1.61 per cent respectively.

While the consumer goods index rose by 0.02 per cent, the industrial and oil and gas indices closed flat.

Trading activity picked up as total volume and value of stocks traded rose.

At the close of trading, the total volume of stocks rose to 250 million units, valued at N1.55bn in 3,534 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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