Nigerian equity market recovers

The Nigerian equity market reversed yesterday’s dip, appreciating 0.11%, driven by gains recorded by Honey Flours, Dangote Cement and FBNH on Tuesday. 

The All-Share Index also appreciated by 0.11% or 44.96 points to close at 39,550.36 points, as against 39,505.40 points on Monday, while market capitalization rose by N24 billion to close at N20.606 trillion.

Investors traded a total of 110.77 million shares worth N3.08 billion in 3,305 deals on Tuesday.

The day’s trading ended with 16 gainers and 16 losers.

Honeywell Flour Mill was top on the gainers’ list with a N0.22k gain to close at N2.47k. Next was Pharma-Deko with N0.11k gain to close at N1.30k, followed by Wema Bank with N0.03k gain to close at N0.84k.
On the losing side, SCOA Nigeria lost N0.19k to close at N1.76k. It was followed by Nestle Nigeria, which lost N140.00 to close at N1,400; FTN COCOA PROCESSORS lost 0.04k to close at N0.43k.

Transnational Corporation of Nigeria was the toast of investors as it had the highest traded shares for the day at 11.9 million, followed by First Bank Nigeria Holdings with 11.1 million shares.

On sectoral performance, only the Industrial index experienced gains on Tuesday to rise by 1.76%.

The Banking index dropped by 0.02%, while the Insurance surface index dropped by 1.17%.

The Consumer goods index declined by 4.61%, while the Oil and Gas index shed 0.15%.