Trade on the Nigerian Stock Exchange Recovers by N3 Billion

The market rally was driven by renewed investor interest in the financial and industrial sectors.

As a result, the market cap increased by N3 billion or 0.01 percent to close at N20.278 trillion from N20.275 trillion reached on Monday.

The All-Share Index also grew 4.88 points or 0.01 percent, closing at 38,920.50 from 38,915.62 on Monday.

The positive market performance was driven by price increases in large and mid-cap stocks such as UACN, Dangote Sugar Refinery, Africa Prudential, Oando and University Press.

Afrinvest Limited analysts said: “In the next trading session, we expect a negative performance as the market does not remain a positive catalyst.”

However, market breadth closed negatively with 21 losers against 14 winners.

UACN Property Development Company led the winner’s chart at 9.93 percent to close at N1.66 per share.

Academy Press followed at 8.33 percent to close at 39k, while Courteville Business Solutions appreciated 7.41 percent to close at 29k per share.

Vitafoam rose 3.88 percent to close at N17.40, while Livestock Feeds appreciated 2.88 percent to close at N2.14 per share.

On the other hand, Sovereign Trust Insurance led the losers chart percentage by 7.41 percent to 25k per share.

University Press followed with 6.42 percent to close at N1.02, while Regency Alliance Insurance lost 6.25 percent to close at 45k per share.

UACN lost 4.85 percent to close at N9.80, while Chams fell 4.55 percent to close at 21k per share.

Meanwhile, total volume increased 13.6 percent to 228.48 million shares worth N1.88 billion traded in 3,376 deals.

This was in contrast to 201.10 million shares worth N2.53 billion gained Monday in 3,340 deals.

Transactions in the shares of Wema Bank topped the chart of activities with 46.76 million shares worth N35.97 million.

Access Bank followed with 28.24 million shares worth N263.49 million, while United Bank of Africa sold 17.77 million shares worth N135.08 million.

Mutual Benefits Assurance traded 17.24 million shares worth N4.88 million, while Fidelity Bank traded 14.80 million shares worth N36.07 million.