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NSE: Market reverses loss, lifted by bank stocks gains

Equities market maintains uptick as ASI up 88bps

The Nigerian Stock Exchange rebounded on Tuesday from a bull run that dominated trade for days, supported by appreciation in bank stocks, with N114.444 billion rise in market capitalisation obliterating the loss of the previous session.

Tuesday’s gain hinged on investors’ interest in the shares of Stanbic, UBA, Access, FBN Holdings and Union Bank.

Across the sectorial indices, the Bank Index moved most, rising by 2.18% to 398.54 basis points.

A positive market breadth was recorded as 26 gainers emerged against 16 losers.

Rising by 0.16%, the All Share Index (ASI) closed at 34,340.56 basis points. Market capitalisation climbed up to N17.943 trillion.

Read also: NSE: Bear run continues amidst profit-taking in bank stocks

Year to date, the index is up by 27.94%

TOP 5 GAINERS

UPDCREIT led gainers, growing by 9.64% to close at N4.55. UCAP property gained 9.52% to close at N4.60. Fidelity rose by 9.47% to N2.66. Mutual Benefits leapt to N0.25, notching up 8.70% in the process. Transcorp completed the top 5, climbing up by 8.62% to N0.63.

TOP 5 LOSERS

Eterna topped the losers’ table, declining by 9.98% to close at N4.15. Fidson shrank by 9.81% to end the day at N4.87. Champion tumbled to N0.96, losing 9.43%. Julius Berger dipped to N17.30, recording 8.95% loss. Chams closed at N0.22, going down by 8.33%.

TOP 5 TRADES

365.414 shares worth N4.692 billion were traded in 6,325 deals.
Zenith Bank was the most preferred stocks with 71.934 million units of its stocks worth N1.730 billion traded in 778 deals. 32.853 million units of Transcorp shares priced at N37.173 billion exchanged hands in 265 transactions. GTB had 30.003 million shares valued at N1.002 billion traded in 484 deals. Access Bank traded 29.549 million shares estimated at N243.312 million in 362 transactions. UBA traded 29.332 million shares valued at N236.303 million in 366 deals.

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