Activities on the Nigerian Stock Exchange (NSE) on Tuesday closed on the bullish trend following gains posted by some highly capitalised stocks. The market capitalisation increased by 1.04 per cent or N126 billion to close at N12.234 trillion against the N12.108 trillion recorded on Monday.
The NSE All-Share Index grew 395.29 points or 1.04 per cent to close at 38,293.59 compared with 37,898.30 points achieved on Monday. ConOil, for the second consecutive day, recorded the highest price gain, chalking up N5.80 to close at N62.55 per share. Forte Oil gained N5.50 to close at N115.64, while Dangote Cement rose by N5 to close at N190 per share. Nigerian Breweries rose by N2.50 to close at N178, while Beta Glass gained 65k to close at N13.75 per share.
Some market analysts attributed the noticeable growth to improved third quarter results declared by some quoted companies. On the other hand, Nestle for the second consecutive day topped the losers’ chart, losing N10 to close at N1, 205 per share.Lafarge Wapco dipped by N2 to close at N103, while Ashaka Cement lost N1.14 to close at N21.86 per share. UACN dropped 90k to close at N65.60, while PZ Cussons depreciated by 64k to close at N37.36 per share.
The volume of shares traded increased by 27.91 per cent with 357.46 million shares worth N3.26 billion traded in 5,054 deals. This was against a total of 279.47 million shares valued at N3.58 billion achieved in 4,506 deals on Monday.
Transcorp was the toast of investors, accounting for 168.27 million shares valued at N455.25 million. ETI came second on the activity chart with 19.33 million shares worth N269.60 million, while Wapic Insurance sold 15.49 million shares valued at N15.66 million. GTBank accounted for 15.43 million shares worth N402.67 million, while Resort Savings & Loans recorded a turnover of 14.99 million shares valued at N7.49 million.
