Stock market closes bullish with market cap up N35.758trn

By Cynthia Ezekwe.

Trading activities on the floor of Nigerian Exchange (NGX) closed positive on Tuesday as market capitalisation grew by 1.65 per cent  to close at N35.758 trillion from the previous close of N35.177 trillion, thereby gaining N581 billion.

The All Share Index appreciated by 1.65 per cent  to settle at 65,669.29 points from the previous close of 64,603.69 points.

An aggregate of 844.7 million units of shares were traded in 8,922 deals, valued at N9.4 billion.

The Market Breadth closed positive as 38 equities appreciated in their share prices against 34 that declined in their share prices.

OMATEK, Sovereign Trust Insurance, FTN Cocoa, CHELLARAM and Transcorp Hotel led other gainers with  10.00 per cent  growth.

ETERNA OIL, Unity Bank, CWG, JAPAULGOLD, May & Baker, COURTVILLE, Dangote Cement and also grew their share prices above 9.00 per cent.

On the contrary, Consolidated Hallmark Insurance led other price decliners as it shed 10.00 per cent  of its share price to close at N1.17 from the previous close of N1.30; while Champion Breweries, MCNICHOLS and PZ among other price decliners also shed their share prices by 9.89 per cent, 9.33 per cent  and 9.32 per cent  respectively.

The major volume drivers of Tuesday’s trading activities were CHAMS, which  traded about 91.7 million units of its shares in 412 deals, valued at about N117 million; FCMB, which traded about 78.7 million units of its shares in just 339 deals, valued at N551.9 million;  and UBA, which  traded about 55 million units of its shares in 490 deals, valued at N795 million.