Stock market gains N254bn on sustained bullish sentiment

The Nigerian banal marketplace sustained its bullish tally connected Tuesday, with investors’ wealthiness expanding by N254 cardinal connected the backmost of renewed bargain hunting.

The upward inclination was driven by request successful equities specified arsenic Regency Alliance Insurance, Mecure, Etranzact, Daar Communications, Deap Capital and 31 different stocks.

The Nigerian Exchange Ltd. (NGX) marketplace capitalisation, which opened astatine N88.199 trillion, roseate by N254 billion, oregon 0.29 percent, to adjacent astatine N88.453 trillion.

Similarly, the All-Share Index appreciated by 0.29 percent oregon 401.36 points, finishing astatine 139,796.11, compared with 139,394.75 recorded connected Monday.

The marketplace breadth besides closed positive, with 36 gainers outnumbering 19 losers.

Regency Alliance Insurance led the gainers’ array with a 10 per cent rise, closing astatine N1.43. Mecure followed, advancing 9.92 per cent to N21.60 per share.

Etranzact gained 9.73 per cent to settee astatine N12.40, portion Daar Communications appreciated 9.57 per cent, ending the league astatine N1.03 per share.

Likewise, Deap Capital Management roseate by 9.52 per cent, closing astatine N1.84 per share.

On the losers’ chart, Unilever Nigeria recorded the highest diminution of 9.79 per cent, settling astatine N63.15 per share.

FTN Cocoa Processors fell 9.40 per cent to N5.40, portion Ellah Lakes declined 8.76 per cent to adjacent astatine N13.02 per share.

Linkage Assurance dropped 6.85 per cent to N2.04, portion Berger Paints shed 6.33 per cent, closing astatine N35.50 per share.

An investigation of trading showed a diminution successful marketplace activity, arsenic investors exchanged 659.2 cardinal shares worthy N12.5 cardinal successful 25,334 deals.

This was little than Monday’s 947.9 cardinal shares, valued astatine N17.9 billion, which were traded successful 36,036 transactions.

FCMB Group emerged arsenic the astir progressive stock, signaling 202.5 cardinal shares valued astatine N2.1 billion.

Universal Insurance followed with 63.1 cardinal shares worthy N79.4 million, portion FirstHoldCo transacted 44.2 cardinal shares valued astatine N1.34 billion.

Regency Alliance Insurance accounted for 30.9 cardinal shares worthy N43.8 million, portion Access Corporation traded 26.12 cardinal shares valued astatine N676.42 million.

Vanguard News

The station Stock marketplace gains N254bn connected sustained bullish sentiment appeared archetypal connected Vanguard News.