Investors recoup N88bn amid depressed stock turnover
The Nigerian stock market extended its positive outlook on Tuesday despite the low activity level across trade volume and value lines recorded during the session.
At the close of the day, equity investors recouped fresh N88 billion over their investments, equivalent to 0.43 per cent rise in the value of aggregate market valuation.
Specifically, the All-Share Index (ASI) that tracks share prices in the market gained 167.56 points to close at 39,015.58 basis points while market CAP followed suit to close the day higher at N20.419 trillion.
Market turnover however suffered huge decline as volume and value traded dipped by 33.35 per cent and 91.59 per cent respectively to 339.02 million share units valued at N2.70 billion in 4,203 transactions.
According to trading statistics obtained by Business Metrics, the breadth for the session closed positive with emergence of 24 stocks against 12 declining stocks.
Honeywell Flour Plc and PZ captained the golden boys with 10 per cent rise each to close at N1.43 and N4.95 per share respectively.
Other top gainers include SOVRNINS, NEM and JOHN HOLT with 8 per cent, 7.5 per cent and 5.55 per cent to close at N0.27, N2.15 and N0.54 per cent respectively.
On the flip side, Royal Exchange depreciated by 10 per cent to close at N0.36 per share, followed by Portland Paint Plc with 9.90 per cent decline to close at N2.64 per share.
Other decliners are FTN Cocoa, CHAM Plc and LIVESTOCK. They shed 8.89, 4.55 and 2.7 percentage points to close at N0.41, N0.21 and N1.80 per share in that order.
In terms of turnover, trade in the shares of GUARANTY attracted highest capital of N683.07 million on traded 22.76 million share units in 291 deals.
Zenith Bank followed with N574.96 million staked on 26.18 million shares that exchanged hands in 381 trades while UACN traded 25.82 million shares, valued at N280.34 million in 273 transactions.