NSE: Market gains N258.451bn on increasing appetite for bellwether stocks

Resuming from a 2-day Easter holiday, the Nigerian stock market appreciated by N258.451 billion on Tuesday, marking the fourth daily gain in a row.

Today’s positive performance hinged on bargain-hunting in large-cap stocks led by Dangote Cement, MTNN, Nigerian Breweries, GTB and Stanbic.

The market ended with a positive breadth, causing 29 gainers to emerge against 12 losers. The All Share Index (ASI) inched up by 2.32% to 21,879.95 basis points. Market capitalisation leapt to N11.403 trillion.

Year to date, the index is down by 18.49%.

TOP 5 GAINERS

Oando topped the gainers’ chart today, appreciating by 10% to close at N2.64. Nigerian Breweries added up 9.91% to end today’s trade at N24.40. Conoil went up by 9.89% to N14.45. Stanbic leapt to N28.50, notching up 9.62% in the process. Chams completed the top 5, climbing up by 9.52% to N0.23.

TOP 5 LOSERS

PZ led losers, declining by 9.09% to close at N4. Red Star Express shed 5.86% to end today’s trade at N2.73. LASACO fell to N0.22, losing 4.35%. Transcorp slumped to N0.67, recording 4.29% depreciation. Neimeth closed at N0.50, going down by 3.85%.

READ ALSO: Nigerians dumped 300,000 bank accounts in Q1 2020 —NIBSS

TOP 5 TRADES

557.820 million shares estimated at N2.617 billion were traded today in 5,310 deals.

Omoluabi Mortgage Bank led trade with 293 million units of its stocks worth N161.150 million traded in 1 trade. 51.819 million units of FBN Holdings shares priced at N243.453 million exchanged hands in 557 transactions. UBA had 35.645 million shares valued at N220.520 million traded in 316 deals. Zenith Bank traded 35.590 million shares estimated at N505.510 million in 846 transactions. Fidelity Bank traded 25.997 million shares valued at N53.447 million in 164 deals.

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