Nestle Nigeria, Aradel Energy, ETI Boost Nigerian Stock Market
The Nigerian stock market continued its upward trajectory on Tuesday, with investors gaining N1.05 trillion
Quick overview
- The Nigerian stock market gained N1.05 trillion on Tuesday, driven by renewed interest in blue-chip stocks.
- The All-Share Index rose by 1.56 percent, closing at 108,361.10 points, with market capitalization increasing to N68.1 trillion.
- Nestle Nigeria Plc and Northern Nigeria Flour Mills Plc were among the top gainers, each rising by 10%.
- Despite the overall gains, trading volume and turnover decreased by 16 percent and 27 percent, respectively, compared to the previous session.
The Nigerian stock market continued its upward trajectory on Tuesday, with investors gaining N1.05 trillion amid the resurgence of interest in purchasing blue-chip stocks in key industries.
The All-Share Index closed at 108,361.10 points, up 1,662.60 points, or 1.56 percent, at the end of trading.
The market capitalization rose from N67.05 trillion to N68.1 trillion. Additionally, Tuesday’s performance showed a 2.12 percent gain in one week, a 2.69 percent gain in four weeks, and a 5.28 percent return this year amid improving investor sentiment. The total value of the 17,575 deals in which investors exchanged 475,459,089 shares was N13.9 billion.
The volume, turnover, and number of deals decreased by 16 percent, 27 percent, and 6 percent, respectively, from Monday’s session. Forty-two listed stocks saw price increases and twenty-five saw losses during the day’s trading.
Nestle Nigeria Plc was the biggest gainer, closing at N1,210.0000 per share after a 10% increase. Northern Nigeria Flour Mills Plc, which also gained 10% to close at N82.50, came next. Additionally, Ecobank Transnational Incorporated saw a 10% rise, closing the day at N25.85 per share.
Austin Laz and Company Plc added 9.94 percent to sell at N1.88 per share, while Beta Glass Plc gained 9.98 percent to close at N132.80.
Academy Press Plc completed the day’s top performers with a 9.76% increase to N3.26.
Wapic Insurance Plc declined 6.07 percent to close at N2.01, while VFD Group Plc was down 6.59% to settle at N17.00. Meyer Plc fell 4.19 percent to settle at N8.00 per share, while Regency Alliance Insurance Plc fell 4.69 percent to N0.61.
Access Holdings Plc was the most traded firm by volume, with 104 million shares exchanged, United Bank for Africa Plc had 30.7 million shares, Sterling Financial Holdings Company Plc had 27.2 million shares, and Guaranty Trust Holding Company Plc had 38 million shares. The Oil and Gas Index jumped 2.97 percent, while the Top 30 Index increased 1.32%.
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