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NSE: Bank stocks drive trade as market gains N54bn

The equity section of the Nigerian Stock Exchange (NSE) maintained its advancing momentum on Tuesday, adding N54.415 billion, with banking stocks driving volume.

Medium and large-cap stocks like Seplat, BUA Cement and MTNN accounted most for improvement in overall market value.

The Industrial Index performed best of all the sectorial indices, jumping by 0.83% to 1,177.32 basis points as lower trade volumes was recorded in the sector’s activities.

16 gainers were recorded compared to 11 gainers, causing the market to close with a positive breadth

The All Share Index (ASI) inched up by 0.39% to close at 26,611.96 basis points while market capitalisation leapt by to N13.908 trillion.

Year to date, the index is down by 0.86%.


Wema Bank led gainers, appreciating by 7.55% to close at N0.57. Aiico grew by 6.33% to end today’s trade at N0.84. Africa Prudential went up by 4% to N4.64. BUA Cement rose to N41.75, notching up 3.34% in the process. Mansard completed the top 5, climbing up by 3.26% to N1.90.

READ ALSO: NSE: Market closes bigger on improving investors’ confidence


Etranzact topped the losers’ chart today declining by 9.96% to close at N2.35. Cornerstone shed 8.45% to end today’s trade at N0.65. WAPCO fell to N15, losing 6.25% in the process. Learn Africa slumped to N1.07, recording 6.14% depreciation. UACN Property closed at N0.87, going down by 3.33%.


Trade volume totalled 413.104 million shares, 22.6% higher than the N336.833 million recorded at Monday’s session. The value came to N4.528 billion in 4,602 deals.

Zenith was the most active stock with 90.882 million of its stocks worth N1.584 billion traded in 575 deals. 82.315 million units of Sterling Bank shares priced at N98.839 million exchanged hands in 64 transactions. UBA had 56.680 million shares valued at N344.360 million traded in 469 deals. FBN Holdings traded 34.617 million shares estimated at N183.011 million in 333 transactions. FCMB traded 24.459 million shares valued at N51.330 million in 46 deals.

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