Investors Gain ₦963 Billion as Stocks Rally

The Nigerian equities market extended its bullish run on Tuesday, as investors gained ₦963 billion amid sustained buying interest in major stocks.

The market capitalisation, which opened at ₦95.171 trillion, added ₦963 billion or 0.01 per cent to close at ₦96.134 trillion.

Similarly, the All-Share Index rose by 0.01 per cent or 1,516.10 points, closing at 151,456.91 compared with 149,940.81 recorded on Monday.

Gains in SCOA Nigeria, Omatek, Consolidated Hallmark Holdings, BUA Foods, Vitafoam, and 23 other equities strengthened the market’s performance.

In spite of the rally, market breadth closed negative, recording 30 losers against 28 gainers.

Livingtrust Mortgage Bank led the losers by 9.91 per cent to close at ₦4. Conoil trailed by 5.83 per cent at ₦190.70, while Africa Prudential fell 5.69 per cent to ₦14.10.

Sovereign Trust Insurance declined by 3.95 per cent to ₦3.65, and NPF Microfinance Bank dropped 3.75 per cent to ₦3.08 per share.

On the gainers’ table, SCOA Nigeria led by 7.74 per cent to close at ₦7.10. Omatek Ventures followed with 7.48 per cent at ₦1.58, and Consolidated Hallmark Holdings rose 6.70 per cent to ₦4.78.

BUA Foods appreciated by 6.54 per cent to ₦692.50, while Vitafoam increased 5.92 per cent to ₦94 per share.

A total of 551.92 million shares worth ₦20.54 billion were traded in 27,518 deals.

Fidelity Bank led in trading volume with 59.1 million shares valued at ₦1.18 billion.

VFD Group followed with 39.31 million shares worth ₦424.7 million, while Japaul Gold traded 37.7 million shares valued at ₦94.9 million.

Access Corporation exchanged 37.4 million shares worth ₦950.1 million, and Guaranty Trust Holding Company sold 31.4 million shares valued at ₦2.92 billion.

(NAN)