Markets
Nigerian equity market extends rally to six consecutive trading sessions
The Nigerian equity market continued its uptrend to the sixth consecutive trading days on Tuesday, gaining 0.30% on the back of 16 advancers.
The banking sector inspired the All-Share Index to gain 105.48 absolute points, representing a 0.30% growth to close at 35,147.62 points, Market Capitalization appreciated by N55.17 billion, representing a growth of 0.30% to close at N18.364 trillion.
The volume and value of stocks traded declined 25.8% and 30.5% to 308.2million units and ₦3.4billion respectively.
Access Bank, FBNH and Mutual Benefit were investors’ delight terms of volume, while GTBank, SEPLAT and Access Bank led by value.
CAVERTON topped 15 other gainers, having added 9.88%, while CORNERST led 20 other laggards, losing -10.00%.
The Banking and Oil & Gas indices gained, up 2.3% and 0.2% respectively, underpinned on price appreciation in GTBank, Zenith Bank and SEPLAT.
On the other hand, the Insurance, AFR-ICT and Consumer Goods indices lost, down 1.2%, 0.1% and 0.1% respectively due to sell-offs in CORNERSTONE, MTNN and GUINNESS respectively.
Meanwhile, the Industrial Goods index closed flat.
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