NSE: Market gains N374.945bn on the back of large-cap stocks

For the seventh day in a row, the Nigerian bourse recorded gain at Tuesday’s session as the market added up about N374.945 billion, the biggest single day gain in three months.

The market reacted to government’s easing of lockdown in some parts of the country apparently in a positive way as three of the most capitalised stocks on the Exchange –MTNN, Dangote Cement and Nestle –alongside heavyweight bank stocks including Zenith and Stanbic accounted principally for the upbeat trend.

A positive market breadth posted as there were 29 gainers against 7 losers.

The All Share Index (ASI) expanded by 3.12% basis points to close at 23,809.31. The market capitalisation closed higher at N12.408 trillion.

Year to date, the index is down by 11.30%.

TOP 5 GAINERS

Dangote Cement led the gainers’ chart today, appreciating by 10% to close at N143. Neimeth went up by 9.26% to N0.59. Prestige Assurance rose to N0.60, notching up 9.09% in the process. UACN Property added 9.09% to end today’s trade at N0.84. UACN completed the top 5, climbing by 6.82% to N0.47.

TOP 5 LOSERS

May & Baker was the worst performing stock today, declining by 10% to close at N2.43. NPFMFB shed 9.60% to close at N1.13. Linkage Assurance fell to N0.48, losing 9.43%. Mcnichols Property slumped to N0.40, recording 8.70% depreciation. Flour Mills closed at N19.75, going down by 5.95%.

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TOP 5 TRADES

345.175 million shares estimated at N4.252 billion were traded today in 4,689 deals.

GTB was the most active stock for today with 54.286 million units of its stocks worth N1.140 billion traded in 451 deals. 41.785 million units of Mutual Benefits shares priced at N9.022 million exchanged hands in 48 transactions. Zenith had 40.312 million shares valued at N591.010 million traded in 597 deals. Sterling traded 30.791 million shares estimated at N37.638 million in 288 transactions. Access traded 28.782 million shares valued at N177.918 million in 252 deals.

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