Dangote, Access Bank Lead Gainers as Stock Market Gains N375bn on Tuesday

• Dangote, Access Bank Lead Gainers as Stock Market Gains N375bn on Tuesday

The Nigerian Stock Exchange sustained positive momentum on Tuesday as investors gained N375 billion.

The bourse has been on a bullish run since President Muhammadu Buhari eased restrictions to gradually reopen the economy for business.

The NSE All-Share Index gained 3.12 percent to close at 23,809.31 basis points on Tuesday while the market capitalisation of listed equities gained N374.94 billion to N12.408 trillion.

Activity level was positive as volume and value traded rose by 38.15 percent and 77.45 percent to 345.17 million and N4.252 billion, respectively. A total of 29 stocks closed in the green against 7 that closed in the red.

GTBank was the most active stock on Tuesday.

The sectorial analysis showed the banking and consumer industries gained 2.42 percent each. The industrial expanded by 1.56 percent while the oil and gas added 0.73 percent. However, the insurance sector shed 0.32 percent as insurance giant AIICO closed in the red.

Dangotecem led the gainers’ table with a 10 percent gain to settle at N143. Followed by 6.56 percent profit from Access bank to N6.5 per share, Nestle was up 5.96 percent to close at N975; MTNN added 3.45 percent to close at N120; and Zenithbank rose by 3.48 percent to close at N14.85.

On the other hand, Maybaker led losers’ chart with a 10 percent decline to close at N2.43 per share, Npfmcrfbk followed with 9.60 percent contraction to close at N1.13. Linkassure lost 9.43 percent to N0.48 per share while flour mill and BUA added 5.95 percent and 2.45 percent decline each.