Stock market remains bullish, gains N145bn

The Nigerian Stock market maintained a bullish trend Tuesday, with benchmark indices rising by 0.6 per cent.

Specifically, the market capitalisation gained N145 billion or 0.6 per cent to close at N24.471 trillion from N24.326 trillion on Monday.

Also, the All-Share Index(ASI) rose by 266.37 points or 0.6 per cent to close at 44,929.33 from 44,662.96 recorded the previous day.

The positive performance of the market was due to buying interest in MTN Nigeria and BUA Foods.

Consequently, the year-to-date (YTD) return rose to 5.18 per cent.

A breakdown of the price movement table showed that UPDC Real Estate Investment Trust topped the gainers’ table with a gain of 10 per cent to close at N2.75 per share.

International Breweries trailed with a gain of 9.41 per cent to close at N4.65, while Sovereign Trust Insurance went up by 8.33 per cent to close at 26k per share.

Fidson rose by 6.99 per cent to close at N8. 72, while UACN appreciated by 6.74 per cent to close at N9.50 per share.

Conversely, Briscoe led the losers’ table, dropping by 10 per cent to close at 27k per share.

Presco followed with a loss of 8.71 per cent to close at N110, while Chams declined by 4.17 per cent to close at 23k per share.

Sunu Assurance decreased by 3.45 per cent to close at 28k, while Consolidated Hallmark Insurance fell by 3.28 per cent to close at 59k per share.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 97.51 per cent.

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A total of 126.56 million shares valued at N3.85 billion were exchanged in 3,383 deals.