Stock Market Maintains Bullish Trend With N58bn Gain

The Nigerian stock market on Tuesday maintained a positive trend following gains recorded majorly by blue-chip stocks.

According to the record, the NSE All-Share Index and market capitalization, rose by 0.49% as investors'' attitude extended its gaining streak while Market breadth closed positive as the market records 18 gainers over the total record of 10 losers.

Similarly, the All-Share Index gained 148.07 basis points or 0.49% to close at 22.727.87 as against 22.616.28 recorded the previous day while the market capitalization of equities appreciated by N58bn or 049% to close at N11.844tn from N11.786tn as market sentiment remained on the green zone.

Meanwhile, a turnover of 266.63 million shares exchanged in 4,259 deals was recorded at the day’s trading while Premium subsector the most active (measured by turnover volume); with 163.28 million shares exchanged by investors in 2,021 deals and activities was driven by FBNH Plc and UBA Plc.

Also, GTBank Plc and Fidelity Bank Plc followed with a turnover of 31.99 million shares in 762 deals.

Cornerstone Insurance Plc led the gainers’ table with a gain of 9.26% to close at 59 kobos per share while Lasaco Insurance Plc followed with a gain of 7.69% to close at 28 kobos per share and FCMB Plc added 6.25% to close at N1.70 per share.

On the other hand, Wapic Insurance Plc led the price losers’ table, dropping 7.41% to close at 25 kobos per share. Africa Prudential Plc followed with 5.95% to close at N3.48 per share while Caverton Plc trailed with a loss of 4.86% to close at N2.35 per share.