Nigerian stock rises by 0.18% as bulls rule

The Nigerian stock market rose by 0.18 per cent to close at 39,382.96 points amid sustained bargain hunting.

The market capitalisation also rose by 0.18 per cent to close at N20.53tn as investors gained N36.59bn at the close of Tuesday’s trading session.

While the year-to-date loss of the ASI moderated to -2.20 per cent, 24 stocks traded up against 17 stocks that fell.

The share prices of Presco, Dangote Cement, Zenith Bank, Access Bank and Africa Prudential rose by 9.58 per cent, 1.61 per cent, 1.09 per cent, 0.60 per cent and 9.17 per cent respectively.

Sectoral performance was weak as three out of the five indices tracked closed in the red zone.

The banking, consumer goods and oil and gas indices fell by 0.33 per cent, 0.02 per cent and 0.14 per cent respectively, while the insurance and industrial indices advanced by 1.27 per cent and 0.70 per cent.

Trading activity was weak as total deal and volume of stocks traded declined.

At the close of the day’s trading, the total volume of stocks fell by 8.51 per cent to 296.59 million units, valued at N3.36bn in 4,265 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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