NSE bearish runs wanes as index gains 1.03%

The Nigerian Stock Exchange, NSE, on Tuesday, August 22, recovered from bear control, bringing up value of lead market indices.

As such, the All-Share Index added 378.04 points or 1.03 percent to close at 36,962.48 points. Meanwhile the market capitalization spiked by 130.3 billion to finish at N12.7 trillion, and the year-to-date gain expanded to 37.54 percent.

Market breadth closed positive with 22 gainers paired against 21 losers, with Nestle adding N20.19k to close at N1220.20k per share, while Total Plc appreciated by N11.40k to finish at N239.51k per share.

Dangote Cement expanded by N9.28k to settle at N224.90k per share, Forte Oil jumped by 50k to end at N50.50k per share, and NASCON gained 48k to grow to N13.50k per share.

Conversely, Mobil depreciated by N11.25k to settle at N213.81k per share. It was closely followed by Conoil, which lost N3.30k to end at N30.59k per share, and Flour Mills of Nigeria, which depreciated by N1.15k to finish at N29.85k per share.

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Furthermore, Zenith Bank dropped 95k to close at N23.5k per share, while UACN dipped by 80k to wrap the day at N15.70k per share.

A total of 244.3 million shares worth N3.7 billion were traded today in 3,829 deals compared with 368.4 million units valued at N6.3 billion executed yesterday in 3,729 deals.

A breakdown of today’s trade showed Livestock emerging the most traded equity, accounting for 101.2 million units sold for N101.12 million.

It was followed by GTBank, which traded 16.5 million shares worth N670.5 million, and UBA, which transacted 15 million units valued at N141.3 million.

In addition, Sterling Bank exchanged 13.5 million shares worth N13.5 million, while Dangote Sugar traded 8.5 million shares at N110.9 million.