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Investors gain N23bn as Honeywell, Dangote Cement lead Nigeria’s stock market recovery

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Investors at the Nigerian capital market gained N23.4 billion on Tuesday as the bourse recovered from the previous day’s loss on the trading floor.

At the close of trading on Tuesday, the market capitalization stood at N20.60 trillion compared to N20.58 trillion posted on Monday.

The All Share Index was up by 44.96 basis points settle at 39,550.36 from 39,505.40 achieved 24 hours earlier.

Investors traded 110.77 million shares valued at N3.08 billion in 3,305 deals on Tuesday.

This was lower than the 141.28 million shares worth N1.63 billion that exchanged hands in 3,393 deals on Monday.

Honeywell Flour led the gainers’ chart after its share price increased by N0.22kobo to move from N2.25kobo to N2.47kobo per share.

Pharmadeko gained 9.24 percent during trading to increase its share price from N1.19kobo to N1.30kobo per share.

Wema Bank’s share price was up by 3.70 percent to end trading at N0.84kobo from N0.81kobo per share.

Neimeth’s share price gained 3.66 percent to move from N1.64kobo to N1.70kobo per share at the end of trading.

Dangote Cement’s share price gained N8 to end trading with N249.60kobo from N241.60kobo per share.

SCOA topped the losers’ chart after shedding N0.19kobo from its share price during trading to drop from N1.95kobo to N1.76kobo per share.

Nestle’s share price declined from N1540 to N1400 per share following a loss of N140 in its share price.

FTN Cocoa’s share price plunged by 8.51 percent to end trading at N0.43kobo from N0.47kobo per share.

Consolidated Hallmark Insurance share price declined from N0.49kobo to N0.45kobo per share after losing 8.16 percent in share price during trading.

Linkage Assurance completed the list as its share price fell by 6.35 percent to end trading at N0.59kobo from N0.63kobo per share.

Transcorp was the most active stock as investors traded 11.93 million shares worth N11.29 million.

First Bank shares were traded at a volume of 11.06 million and valued at N81.32 million.

Oando was next with 7.30 million shares traded at a cost of N36.37 million.

Access Bank reported 6.19 million shares worth N56.33 million, while NAHCO recorded over 5.38 million traded shares at a value of N14.19 million.

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