Stock Investors Gain N232bn on Tuesday

• Stock Investors Gain N232bn on Tuesday

Nigerian equity traders on Tuesday gained N234 billion following seven consecutive days of decline.

The bourse rebounded as banks declared impressive financial statements for the year ended December 31, 2019.

The market capitalisation of listed equities gained N232 billion or 1.70 percent from N13.449 trillion recorded on Monday to close at N13.681 trillion on Tuesday as 23 stocks closed in the green with Zenith Bank and UBA plc emerging the most traded stocks.

The NSE All-Share Index gained 289.63 basis points or 1.70 percent from 25,816.57 achieved on Monday to 26,255.11.

On activity level, the premium subsector led with 158.4 million shares that were exchanged in 1,880 transactions. The sector was boosted by the surged in activities of Zenith Bank Plc and UBA Plc.

The banking subsector, however, was aided by the growing interest in GTBank and Fidelity Bank, the subsector followed with 122.3 million shares traded in 1,315 deals.

Investors on the floor exchanged a total of 386.8 million shares in 4,901 transactions on Tuesday.

Leading the gainers’ chart were PZ Cussons Plc, Skyway Aviation Company Plc, Access Bank Plc and FBN Plc with 9.9 percent, 9.88 percent, 9.74 percent and 9.57 percent to close at N4.45, N2.34, N8.45 and N5.15 per share, respectively.

On the other hand, ABC Transport Plc led the losers’ chart with a decline of 10 percent to close at 27 kobo per share. While Dangote Sugar and Okomu Oil closely trailed it with 9.92 percent to close at N10.90 per share and 9.71 percent to close at N61.40 per share.