Bulls maintain dominance on NSE, index up 0.39%

The Nigerian Stock Exchange key market indicators on Tuesday sustained positive posture for the eighth consecutive trading session.

Specifically, the All-Share Index appreciated further by 0.39 per cent or 104.12 points to close at 26,611.96 from 26,507.84 achieved on Monday.

Similarly, the market capitalisation inched higher by N54 billion or 0.39 per cent to close at N13.907 trillion against N13.853 trillion on Monday.

The upturn was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Seplat, BUA Cement, MTN Nigeria Communications, Dangote Sugar and Zenith Bank.

Market breadth closed positive with 16 gainers in contrast with 11 losers.

University Press led the gainers’ chart in percentage terms, gaining 7.55 per cent to close at 57k per share.

AIICO Insurance followed with 6.33 per cent to close at 84k, while Africa Prudential rose by four per cent to close at N4.68 per share.

BUA Cement gained 3.34 per cent to close at N41.75, while AXA Mansard Insurance appreciated by 3.26 per cent to close at N1.90 per share.

Conversely, eTranzact International led the laggards’ chart in percentage terms, losing 9.96 per cent to close at N2.35 per share.

Cornerstone Insurance followed with 8.45 per cent to close at 65k, while Lafarge Africa dipped 6.25 per cent to close at N15 per share.

Learn Africa lost 6.14 per cent to close at N1.07, while UACN Property Development shed 3.33 per cent to close at 87k per share.

Transactions in the shares of Zenith Bank topped the activity chart with 90.88 million shares valued at N1.59 billion.

Sterling Bank followed with 82.32 million shares worth N98.84 million, while United Bank for Africa sold 56.68 million shares valued at N344.36 million.

FBN Holdings traded 34.62 million shares worth N183.01 million, while FCMB Group accounted for 24.46 million shares worth N51.33 million.

In all, the total volume of share traded rose by 22.64 per cent as investors bought and sold 413.10 million shares worth N4.53 billion in 4,681 deals.

This was in contrast with 336.83 million shares valued at N4.03 billion exchanged in 4,602 deals on Monday.