Trading on the Nigerian Stock Exchange (NSE) closed on a positive note on Tuesday, with the market indicators appreciating marginally by 0.27 percent.
Market observers attributed the growth to the price gains made by some blue chips, which they said may not be sustainable due to profit taking by investors and the fast approaching elections.
Specifically, the market capitalisation rose by N35 billion or 0.27 per cent to close at N12.573 trillion against N12.718 trillion on Monday.
Also, the All-Share Index rose by 96.18 points or 0.27 per cent to close at 34,933.68 compared with 34,837.50 posted on Monday.
OkomuOil gained N2.4 to close at N79.9 to lead the gainers’ chart, while GTBank and Zenith Bank followed with gains of 55k each to close at N37.05 and N21.9 per share respectively.
FBNH improved by 3k to close at N9.15, while Custodian appreciated by 24k to close at N5.41 per share.
On the other hand, Nigerian Breweries topped the losers’ chart, shedding N2 to close at N93 per share.
PZ Cussons trailed with a loss oN1.5 to close at N13.5, while UACN declined by 9k to close at N11.2 per share.
Forte Oil was down by 85k to close at N19, while Fidson lost 6k to close at N5.4 per share.
The volume of shares traded rose by 82.82 per cent, while value of shares transacted increased by 15.18 per cent.
Investors traded a total 240.460 million shares valued at N3.40 billion in 3,400 deals.
This was against the 131.531 million shares worth N3.13 billion exchanged in 3,080 deals on Monday.
United Bank for Africa was the most active stock, exchanging 54.44 million shares worth N436.03 million.
Access Bank followed with an account of 38.45 million shares valued at N359.44 million, while Stanbic IBTC traded 35.23 million shares worthN1.68 billion.
GTBank sold 15.75 million shares valued at N576.77 million, while AIICO Insurance exchanged 14.31 million shares worth N14.16 million.