Nigerian stocks climbed for the third day on the trot on Tuesday, appreciating by 1.04 per cent or N262.2 billion as the confidence in equities, built around the bullish atmosphere of a reasonably positive earnings season, gained momentum, prompting investors to plough in more cash.
Energy giant Seplat drove gains with backing from GTCO and NGX Group in a session in which the financial services shares steered the charge at sector level, and trade volume improved by almost 40 per cent compared to Monday’s.
Market breadth, a pointer to investors’ attitude to trade, was positive as 36 gainers were reported, relative to 21 laggards.
The all-share index jumped 486.54 basis points to 47,111.21, while market capitalisation closed higher at N25.4 trillion.
Year to date, the index is up by 10.3 per cent.
TOP FIVE GAINERS
Seplat led gainers, appreciating by 10 per cent to close at N869. Conoil grew by 9.79 per cent to end trade at N24.10.
Academy Press went up by 9.57 per cent to N1.03. RT Briscoe rose to N0.24, notching up 9.09 per cent in the process. Presco climbed up by 8.75 per cent to N105.
TOP FIVE LOSERS
Caverton topped the losers’ chart declining by 9.50 per cent to close at N1.62. Eterna shed 9.17 per cent to end trade at N5.45.
NCR fell to N3, losing 9.09 per cent in the process. Japaul dipped to N0.37, recording 7.50 per cent depreciation. ETI closed at N11.60, going down by 7.20 per cent.
TOP FIVE TRADES
In all, 341.5 million shares estimated at N3.7 billion were traded in 6,417 deals.
Transcorp was the most active stock, trading 32.1 million shares worth N37.5 million traded in 187 deals. Fidelity Bank shares of 25.2 million units priced at N71.5 million exchanged hands in 252 transactions.
Access had 23.5 million shares valued at N238.3 million traded in 296 deals. GTCO traded 21.1 million shares estimated at N587.3 million in 477 transactions. NGX Group traded 20.5 million shares valued at N502.5 million in 331 deals.
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