On Tuesday, investors in Nigeria’s stock market saw a remarkable increase of N963 billion in their portfolio values by the end of trading.
This boost was primarily driven by notable price gains in shares of companies like Scoa Nigeria, Omatek Ventures, and Consolidated Hallmark Plc, among others, on the trading floor.
The All-Share Index (ASI), a key market indicator, climbed to 151,456.91 points, up from the previous day’s 149,940.81 points.
Following five hours of active trading, the total market capitalization rose to N96.1 trillion, a significant jump from Monday’s N95.1 trillion.
Despite the overall positive market value, the market breadth showed a slight downturn with 30 stocks advancing, 33 declining, and 83 remaining flat across 27,518 transactions.
Investors exchanged a total of 551,924,792 shares, amounting to a turnover of N20.5 billion.
Scoa Nigeria, Omatek Ventures, and Consolidated Hallmark Plc topped the gainers’ list, with their share prices appreciating by 7.74%, 7.48%, and 6.70% respectively, closing at N7.10, N1.58, and N4.78 compared to their previous prices of N6.59, N1.47, and N4.48.
Conversely, LivingTrust Mortgage Bank, Conoil Plc, and Africa Prudential Plc experienced declines, with share prices dropping by 9.91%, 5.83%, and 5.69% to close at N4.00, N190.70, and N14.10 from N4.44, N202.50, and N14.95 respectively.
In terms of trading volume, Fidelity Bank Plc led with 59 million shares exchanged in 596 deals, followed by VFD Group with 39 million shares traded across 177 deals.
Japaul Gold Ventures Plc also saw significant activity, trading 37 million shares in 201 transactions.
Regarding value traded, Aradel Power Holding Plc dominated with shares worth N2.9 billion exchanged in 1,125 deals, closely followed by Dangote Cement Plc with N2 billion worth of shares traded in 1,300 deals.
Additionally, Aradel Power Holding Plc recorded another substantial trade valued at N1.6 billion in 553 deals.
Babajide Okeowo
