Unity Bank Recovers As Market Holds Firm

The Nigerian stock market held firm on Tuesday, as the All-Share Index edged up 0.18% to 39382.96 index points towards the Eid-al-Fitri holiday.

The markets closed with 4,265 deals worth N3.36 billion, raising the Nigerian stock markets market capitalization to N20.53 trillion and bringing its current year-to-date returns to -2.2 percent.

Market turnover however closed negative as volume moved down by 8.51 percent as against the 35.68 percent uptick recorded in the previous session. Access Bank Plc, UACN Property Development Plc, and Fidelity Bank Plc were the most active to boost market turnover. Zenith Bank Plc and PRESCO Plc topped the market value list.

Top 5 Gainers

Meyer Plc led 21 winners on Tuesday, advancing 9.62 percent or 5kobo to close trading at a new 52-week high of 57kobo per share. The building sector giant has now gained 16.33 percent in the past four weeks.

Presco Plc surged 9.58 percent, or N6.9 to break out of its long flat trading streak and close trading at N78.90 per share.

UACN Property Development Plc broke out of a flat trading streak with a gain of 9.21 percent, or 7kobo to close trading at 83kobo per share.

Africa Prudential Plc recorded its biggest intraday gain of the year, jumping 9.17 percent, or 55kobo to close trading at N6.55 per share.

Unity Bank Plc recovered from yesterday's plunge with a 9.09 percent gain worth 5kobo to close trading at 60kobo per share. The bank has had a rather weak run in the stock markets this year, as it is still down 6.25 percent from the year's opening price of 64kobo per share.

READ ALSO: Unity Bank Plunges While Investors Gain N59.41bn

Top 5 Decliners

Regency Assurance Plc led 17 losers on Tuesday as it gave back its previous gain with a dip of 8.82 percent, or 3kobo, to close trading at 31kobo per share.

Honeywell Four Mills Plc lost 5.83 percent, or 7kobo, to close trading at a new one-month low of N1.13 per share.

Cutix Plc ended a long flat trading streak with a dip of 4.98 percent or 11kobo, to close trading at N2.10 per share.

United Capital Plc dipped 4 percent or 24kobo to close trading at N5.76 per share.

Wapic Insurance Plc dipped 3.77 percent or 2kobo to close trading at 51kobo per share.