Stock Market Closes Higher on Tuesday

• Stock Market Closes Higher on Tuesday

The Nigerian Stock Exchange closed higher on Tuesday as blue-chip stocks rebounded from Monday decline.

The gauge of performance, the NSE All-Share Index and market capitalisation gained 1.24 percent as 24 stocks closed in the green to slightly moderate the year-to-date returns to -22.04 percent.

The market capitalisation of listed equities rose from N10.905 trillion it closed on Monday to N10.771 trillion on Tuesday, while the NSE All-Share Index gained 255.81 basis points or 1.24 percent from 20,669.38 to 20,925.19 basis points.

Total shares of 1.4 billion were exchanged in 4,647 transactions during the trading hours.

The most active in terms of volume traded was Mortgage carriers, brokers and services subsector with 1.1 billion shares traded by investors in one deal.

Activity in the subsector was largely driven by the surges in interest in Omoluabi Mortgage Bank Plc.

FBNH Plc led the gainers’ chart after declaring N74 billion profit on Monday to close with a 10 percent profit at N4.40 per share. Followed by Sterling Bank Plc with a gain of 9.91 percent to close at N1.22 per share, while Fidelity Bank Plc added 9.84 per cent to close at N2.01 per share.

Cadbury Nigeria led losers’ table with a 10 percent decline to close at N6.30 per share. Ardova Plc and Mansard Insurance Plc plunged by 9.78 percent and 9.71 percent to close at N12.45 per share and N1.58 per share, respectively.