Nigerian Stock Exchange Adds N13bn On Industrial Sector Rally

The Nigerian Stock Exchange (NSE) added N13 billion at the close of trading on Tuesday, buoyed by strong performances in consumer and industrial sectors. Market capitalisation now stands at N95.3 trillion.

The All-Share Index rose by 21.23 points to 149,459.11, marking a one-week gain of 1.71 per cent, a four-week gain of 3.08 per cent, and a year-to-date increase of 45.21 per cent. Other advancing indices included the Insurance Index, up 0.36 per cent; the Consumer Goods Index, up 0.21 per cent; and the Pension Index, up 0.07 per cent.

A total of 912,582,020 shares changed hands in 23,678 deals, representing a market value of N20.2 billion. Compared with Monday’s session, trading volume rose by 65 per cent, turnover increased by 52 per cent, while the number of deals fell by 18 per cent.

Of the 129 listed equities traded, 31 stocks recorded gains while 26 posted losses. Leading the gainers was Aluminium Extrusion Industries with a 10 per cent rise, closing at N9.35 per share. Guinness Nigeria followed with a 9.98 per cent increase to N263.40, MeCure Industries gained 9.95 per cent to N45.85, and Multiverse Mining and Exploration rose 9.95 per cent to N12.15. Other notable gainers included Sovren Insurance, up 9.89 per cent to N4.11, and Sunu Assur, up 7.96 per cent to N4.34.

On the losing side, Haldane McCall led with a 9.93 per cent drop to N3.72, followed by LivingTrust Mortgage Bank down 9.09 per cent to N3.50; Veritas Kapital Assurance down 9.09 per cent to N1.60; Linkage Assurance down 5.71 per cent to N1.65; and Champion Breweries down 5.63 per cent to N13.40.

Access Holdings recorded the highest trading volume of 385,834,219 shares, followed by Sterling Bank (85,488,191), FCMB Group (75,689,568), First HoldCo (51,923,443), and AIICO (36,690,774). Access Holdings also led in value at N7.72 billion, followed by First HoldCo (N1.83 billion), GTCO (N1.50 billion), Zenith Bank (N0.92 billion), and MTN (N0.80 billion).

On Monday, the NSE had posted a modest gain of about N3 billion as investors adopted a cautious approach amid mixed sectoral sentiment.