Nigerian Stock Exchange benchmark index gains by 0.08%

Salamatu Ejembi, Lagos

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The equities market has again closed on a positive, with the benchmark index gaining 0.08% on Tuesday.

The All Share Index which closed at 27,565.09 basis points on Monday, closed on Tuesday at 27,586.79 basis points on Tuesday.

While the Market Capitalisation closed on Tuesday at N13,421 trillion Naira compared to previous closing of N13,410 trillion Naira optained on Monday.

Analysis states that this gain was driven by the 1.08% gain in MTN NIGERIA COMMUNICATIONS PLC .

Thus the Month-to-Date return increased to +0.22% while the Year-to-Date losses moderated to -12.23%.

The total volume of trades increased by 164.01% to 294.41 million units, valued at N3.50 billion and exchanged in 3,337 deals.

UACN PROPERTY DEVELOPMENT COMPANY PLC was the most traded stock by volume at 61.67 million units, while GUARANTY TRUST BANK PLC was the most traded by value at N1.40 billion.

On sectoral performances, the Insurance Index which gained 1.79% and Industrial Goods Index which gained 0.08%, topped gains, while the Consumer Goods Index with 0.36%, Banking Index with 0.34%, and Oil & Gas Index with 0.18%, declined.

However, Market sentiment, as measured by market breadth, was negative as 18 stocks recorded losses relative to 13 gainers.

Assessing the gainers and decliners lists, TRIPPLE GEE AND COMPANY PLC with 9.52% and STERLING BANK PLC with 8.00% lost the most value during today’s trading session, while INTERNATIONAL BREWERIES PLC with 10.00% and CORNERSTONE INSURANCE PLC  with 8.70% recorded the largest gains.

Peace PIAK