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NSE: Market scrapes weak recovery on the back of large-cap gains

Stock-market-up

The Nigerian bourse closed Tuesday trade on a positive note even though a cumulative gain of N37.263 billion was largely inadequate to reverse the losses of the three preceding days, coming to N259.559 billion.

Gains garnered by heavyweights like Airtel Africa, BUA Cement and Zenith Bank managed to temper the impact of counterpart large-cap stocks such as MTNN and Dangote Cement on the losers’ side of the market

Across the sector indices, the day belonged to the Banking Index, which towered over the rest four indices assessed, climbing 0.92% up to 274.09 basis points.

The All Share Index (ASI) shrank tighter by 0.39% to close at 24,097.48 basis points. Market Capitalisation fell to N12.571 trillion at the end of today’s trade.

Year to date, the index is down by 11.24%.

TOP 5 GAINERS

Red Star Express led advancers, appreciating by 9.76% to close at N3.26. WAPIC added up 6.06% to end today’s trade at N3.05. C&I Leasing went up by 5.26% to N4. PZ advanced to N4.20, notching up 5%. Mutual Benefits completed the top 5, climbing by 4.76% to close at N0.22.

READ ALSO: NSE: Market extends loss by N20bn amid profit-taking in mid-cap stocks

TOP 5 LOSERS

Okomu Oil was the worst performing stock, declining by 9.95% to close at N69.70. MRS shed 9.78% to close at N12.45. Unilever Property fell to N12.45, losing 9.78%. Mansard dipped to N1.59, recording 9.66% depreciation. Custodian closed at N9.09, going down by 9.66%.

TOP 5 TRADES

155.529 million shares estimated at N1.601 billion were traded today in 4,060 deals.

GTB was the most active stock today with 19.724 million units of its stocks worth N413.816 million traded in 450 deals. 13.012 million units of Access Bank shares priced at N81.056 million exchanged hands in 342 transactions. MTNN had 10.232 million shares valued at N41.177 billion traded in 84 deals. UBA traded 10.189 million shares estimated at N61.983 million in 179 transactions. Japaul traded 9.624 million shares valued at N2.050 million in 36 deals.

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