Stocks Surge Six Weeks High, Gain ₦116.05bn
Stocks trading resumed at the Nigerian Exchange on Tuesday with a N116.05 billion gain to close market capitalization at to close at ₦25.91trillion.
Extending previous session’s rally Friday last week, today’s gain is the highest since August 25, pushing year-to-date market return to 11.35 percent.
The All-Share Index which measures performance of traded equities also rose by 0.45 percent to close at 47,565.92 points.
The market’s performance was primarily driven by a rally in BUACEMENT which appreciated +8.65 percent to close at N56.50 per share, up from N52.
Analysis of market activities showed that trade turnover settled higher relative to the previous session, with the value of transactions increasing by 11.09 percent.
A total of 125.65 million units of shares valued at ₦1.90 billion were exchanged in 4,188 deals. GTCO with -0.29 percentage price decline led the volume and value charts with 38.87 million units traded in deals worth ₦659.10 million.
A total of 15 stocks depreciated in price value led by UPL with -8.54 percentage decline while MAYBAKER with +9.76 price appreciation topped the table of 12 price gainers.
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