Stock Market Sustains Growth, As ASI Rises By 1.25%

The trading transaction of the Nigerian Stock Market on Tuesday sustained its growth, with 1.25% appreciation of the All Shares Index, (ASI)

ASI appreciated by 1.25% to close at 32,647.10, compared to 32,243.05 on Monday. Also, the market capitalisation grew to N17.059 trillion from the N16.847 trillion on Monday, representing an increase of N211 billion or 1.25%.

The increase in trading was impacted by the rise in stocks of MTN Nigeria, Dangote Sugar and Stanbic IBTC.

The total volume of shares stood at 578,779,229.00, with investors closing transaction at N7,743 billion in 7,651 deals, as against the 636,010,098.00 shares at N8,244,052,788.62 in 7,210 deals on Monday.

Nestlé, WAPCO, Guaranty Trust Bank, PZ and UCAP were the biggest losers in trading on Tuesday in percentage terms, with PZ slipping by 5.38% to close at N4.4 per shares.

UCAP shed 3.17% to close at N4. 28 per shares, while WAOCO dipped by 2.10% to close at N21 per shares.

NESTLÉ went down by 1 53% to close at N140 per shares, while Guaranty Trust Bank lost 0.71% to close at N 35 per shares.

Conversely, NASCON led the gainers chart with 9.96% to close at N15.45 per shares.

Dangote Sugar continued its consistent appreciation in the market, gaining 7.18% to close at N19.4 per shares, while DOVA closely followed with 7.08% growth to close at N14.4 per shares.

The gainers’ chart also had Stanbic IBTC, with its shares appreciating by 4.35% to close at N48 per shares, while MTN Nigeria surged by 4.06% to close at N156.2 per shares.

For the second consecutive days, Zenith Bank led the activity market with 67,914,245 shares worth N1,621,267,654.