The Nigerian stock market has rebounded from the negative numbers with which it closed activities last week as it commenced a new week with bullish outlook.
Upon resuming trading activities on Monday and Tuesday, investors recouped N309 billion and N300 billon respectively, totaling N509 billion gain since the beginning of the week.
Similarly, the All-Share Index (ASI) appreciated by 974.48 points or 2.85 per cent during the two trading sessions.
The benchmark index, which tracks the aggregate share price movement at the NSE, added 592.7 points to close at 34,843.44 index points on Monday, and further advanced by 381.78 points or 1.1 per cent to close activities on Tuesday at N35,225.22 basis points.
As the Nigeria stock market closed on Tuesday, Dangote Cement led the bullish charge in a struggle between 29 gaining stocks and 14 decliners that led to a positive market breadth while 13 other stocks closed the day on flat prices.
Trading statistics by the NSE showed that Dangcem gained N7 to close at N195 per share, followed by WAPCO with N1.5 to close at N22.5 per share while ZenithBank trailed with N0.90 gain to close at N23.5 per share.
Similarly, GUARANTY and GUINNESS added N0.55 and N0.35 gain each to close the session at N33.55 and N18.0 per share respectively.
On the flip side, VANLEER top the bear’s camp as it shed N0.90 to close at N8.20 per share. Redstarex trailed with N0.33 loss to close at N3.05.
Other decliners recorded in the market on Tuesday include International Breweries, losing N0.20 close at N6.27 per share while ARDOVA and FCMB shed N0.15 each to close the session at N12.05 and N2.87 per share accordingly.
Trading data analysed by Business Metrics also revealed that relative to the previous session, activity level for the session was mixed following 26.98 per share appreciation in volume traded despite 20.27 decline in the value of trade for the Tuesday session.
Again, Dangote led the turnover with the highest trade value as it traded 2.82 million shares valued at N545.137 million. ZenithBank followed with 23.417 million shares worth N538.62 million while Dangsugar realised N407.57 by pushing 23.031 million shares.
On the traded volume chart, Access Bank topped with 36.472 million share units valued at N2895.34 million followed FBNH whose share holders traded 33.83 million shares at N236.636 million shares while ZenithBank occupied the third place on the chart.
Collectively, investors closed the session with 264.242 million shares worth N2.947 billion in 4,354 vis-à-vis 208.09 million shares valued at N3.7 billion that exchanged hands in 4,154 the previous session.
