Stock market closes higher, indices up 0.67%

The Nigerian Exchnge Ltd. (NGX) on Tuesdsy recorded positive performance as the All-Share Index (ASI) gained 352.49 points or 0.67 per cent to close at 52,701.31 from 52,348.82 recorded on Monday.

Also, the market capitalisation gained N192 billion or 0.67 per cent to close at N28.704 trillion as against N28.512 posted at the previous trading.

Accordingly, the year-to-date (YTD) return rose to 2.83 per cent.

The upturn was impacted by gain recorded in stock of the telecommunications, Airtel Aftica.

The market breadth measured by market sentiment was positive with 15 gainers relative to 13 losers.

UPDC Real Estate Investment Trust led the gainers’ chart in percentage terms by 10 per cent to close at 3.30 per share.

MRS Oil followed with 9.93 per cent to close at N15.50, while Chellerams grew by 9.92 per cent to close at N1.33 per share.

Sunu Assurances rose 8.82 per cent to close at 37k, while MCNichols appreciated by 7.02 per cent to close at 61k per share.

On the other hand, UPDC led the losers’ chart in percentage terms by 6.93 per cent to close at 94k per share.

Geregu Power followed with 6.71 per cent to close at N139, while Linkage Assurance dropped by 6.38 to close at 44k per share.

Royal Exchange shed 5.26 per cent to close at 90k, while PZ went down by 5.21 per cent to close at N10 per share.

The trade turnover increased by 36.73 per cent to 228.49 million units, valued at N4.44 billion and exchanged in 3,681 deals.

Transactions in the shares of Sterling Bank topped the activity chart with 76.74 million shares valued at N118.91 million.

Chams followed with 17.57 million shares worth N5.18 million, while Guaranty Trust Holding Company (GTCO) traded 16.76 million shares valued at N401.98 million.

Zenith Bank traded 11.32 million shares valued at N276.03 million, while Royal Exchange transacted 10.65 million shares worth N9.34 million.