Banking stocks, others boost equity market by 1.35%

Investors at the Nigerian stock market gained N364.39 billion, following the rise in equity capitalisation by 1.35 per cent on Tuesday.

The equity capitalisation rose from N26.94 trillion recorded on Monday to close at N27.3 trillion.

Also, the All-Share Index (ASI) was up by 675.72 points to close with 50,626.04 points compared to 49,950.32 points recorded the previous day.

The year-to-date (YTD) return fell to 18.52 per cent.

Overall, market breadth closed positive as 19 stocks appreciated while nine others declined.

Honeywell Flour Mill led the gainers with 9.66 per cent share price appreciation closing at N2.27 per share.

Jaiz Bank followed by 9.46 per cent to close at 81k per share, while Caverton Offshore Support Group rose by 8.18 per cent to close at N1.19 per share.

Also, Japaul Gold and Mansard Insurance increased by eight per cent and 7.56 per cent each to close at 27k and N1.85 per share respectively.

On the losing side, McNichols’s share price depreciated by 9.76 per cent to close at 74k per share.

Wapic Insurance next by 9.76 per cent to close at 37k per share, while Chams fell by eight per cent to close at 23k per share.

Nigerian Exchange Group dropped by 2.73 per cent to close at N21.35 per share.
Also United Bank for Africa (UBA) declined by 2.08 per cent to close at N7.05 per share.

Investors parted with N2.86 billion for 129.17 million shares in 4,706 deals.

This is higher to N2.27 billion raised on 176.05 million shares in 4,965 deals on Monday which represents 27 per cent decline in volume, 26 per cent improvement in turnover.

FBN Holdings recorded the highest volume of 14.6 million traded shares worth N159.56 million.

It is followed by Multiverse Mining & Exploration which traded 9.48 million shares at N18.56 million.

Guaranty Trust Holding Company (GTCO) sold 9.37 million shares worth N191.03 million, while Zenith Bank traded 9.29 million shares at N196.25.

AIICO sold 64 million shares at N3.77 million.