Home Business Nigerian stocks add N34 billion as bull run continues

Nigerian stocks add N34 billion as bull run continues

Nigerian stocks add N34 billion as bull run continues

Nigerian stocks lifted by 0.18 per cent on Tuesday, further stretching a gaining streak that began on Friday. Investors’ interest in the shares of Presco, Zenith and Access were instrumental in the advance, but trade volume dropped by 9 per cent.

The insurance index climbed most of the five sectorial indices tracked by the exchange, moving 1.27 per cent to 202.21 basis points.

The market posted a positive breadth, with 21 gainers emerging against 17 losers.

The all-share index was rose 70.22 basis points to 39,382.96, while market capitalisation closed at N20.53 trillion, N34 billion stronger than the previous close.

Year to date, the index is down by 2.2 per cent.


Meyer led gainers, appreciating by 9.62 per cent to close at N0.57. Presco added up 9.58 per cent to end the day’s trade at N78.90. UACN Property advanced by 9.21 per cent to N0.83. Africa Prudential rose to N6.55, notching up 9.17 per cent in the process. Unity Bank completed the top 5, climbing up by 9.09 per cent to N0.60.


Regal Insurance topped the losers’ chart, declining by 8.82 per cent to close at N0.31. Honeywell shed 5.83 per cent to end trade at N1.13. Cutix fell to N2.10, losing 4.98 per cent. UCAP slumped to N5.76, recording 4 per cent depreciation. Wapic closed at N0.51, going down by 3.77 per cent.


In all, 296.597 million shares estimated at N3.362 billion were traded in 4,265 deals.

ALSO READ: Bank stocks gains help stop Nigerian equities from sinking further

Access was the most active stock with 58.559 million of its shares worth N494.147 million traded in 425 deals. UACN shares of 38.274 million units, priced at N394.223 million, exchanged hands in 93 transactions. Fidelity had 27.151 million shares valued at N62.356 million traded in 168 deals. Zenith traded 26.422 million shares estimated at N609.739 million in 413 transactions. Transcorp traded 15.626 million shares valued at N14.180 million in 82 deals.

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