Stock market gains N208bn as trading resumes after holiday

The Nigerian stock market on Tuesday resumed trading after the Easter holiday on a positive note, with investors gaining N208 billion.

The upturn was driven by buying interest in Trans-Nationwide Express, Omatek Ventures, Cadbury, First Holding Company, Fortis Global Insurance and 19 other stocks.

Market capitalisation rose by 0.16 per cent, increasing from N129.806 trillion at the opening to N130.014 trillion at the close, representing a gain of N208 billion.

Similarly, the All-Share Index advanced by 324.21 points or 0.16 per cent to close at 202,023.10, compared with 201,698.89 recorded at the previous session.

Consequently, the year-to-date return rose to 29.82 per cent.

However, market breadth closed negative, with 37 losers against 24 gainers.

Ellah Lakes led the losers’ chart with a 10 per cent decline, closing at N10.80 per share.

Daar Communications followed with a loss of 9.95 per cent to close at N1.72, while CHAMS shed 9.87 per cent to end at N3.38 per share.

John Holt dropped by 9.71 per cent to close at N13.95, while Sunu Assurances declined by 9.68 per cent to N4.20 per share.

On the gainers’ chart, Trans-Nationwide Express appreciated by 9.86 per cent to close at N3.12 per share.

Omatek Ventures gained 9.76 per cent to settle at N2.25, while Cadbury rose by 9.53 per cent to close at N75.25 per share.

First Holding Company increased by 9.10 per cent to N54.55, while Fortis Global Insurance advanced by 6.50 per cent to close at N1.31 per share.

Analysis of market activity showed that a total of 1.15 billion shares worth N40.3 billion were traded in 78,006 deals.

This contrasts with 559.9 million shares valued at N19.26 billion exchanged in 49,676 deals at the previous session.

Wema Bank led the activity chart by volume with 282.6 million shares valued at N7.3 billion.

Access Corporation followed with 125.2 million shares worth N3.3 billion, while VFD Group traded 106.8 million shares valued at N1.13 billion.

Also, First Holding Company recorded 62.9 million shares worth N3.2 billion, while Guaranty Trust Holding Company traded 56.6 million shares valued at N7.05 billion.