Nestle Nigeria Plc, Tripple Gee and Company Plc, and Regency Alliance Insurance Plc experienced stock appreciation as the Nigerian stock market rebounded on Tuesday with a gain of N20bn in market capitalisation.
At the close of trading on the Nigerian Exchange Limited, the All-Share Index inched up by 32.64 points, or 0.03 per cent, to close at 109,730.47 points, while the market capitalisation increased to N69.031 tn from N69.011 tn on Monday.
The day’s performance was supported by positive sentiment in the consumer goods and insurance sectors, as the Consumer Goods Index rose by 2.5 per cent and the Insurance Index gained 1.41 per cent.
A total of 497.06 million shares valued at N13.21bn were exchanged in 18,795 deals. This represented a two per cent increase in volume and a 16 per cent rise in turnover when compared to the previous trading session, although the number of deals declined by 24 per cent.
Nestle Nigeria Plc led the gainers’ chart with a 10 per cent appreciation in share price, closing at N1,464.10 per share. It was followed by Tripple Gee and Company Plc, which also gained 10 per cent to close at N2.20. Regency Alliance Insurance Plc rose by 10 per cent to settle at N0.66, while Tantalizers Plc appreciated by 9.88 per cent to N2.78. Multiverse Mining and Exploration Plc gained 9.60 per cent to close at N9.70, and John Holt Plc advanced by 9.42 per cent to N7.55.
On the losers’ table, Berger Paints Nigeria Plc led with a 9.98 per cent decline to close at N21.20 per share. Mutual Benefits Assurance Plc dropped by 9.80 per cent to N0.92.
Associated Bus Company Plc fell by 9.77 per cent to N2.40, while Aradel Holdings Plc shed 8.55 per cent to N460.00. Caverton Offshore Support Group Plc declined by 7.09 per cent to N3.80, and Meyer Plc depreciated by 6.74 per cent to N9.00.
In terms of trading volume, Fidelity Bank Plc recorded the highest with 60.2 million shares, followed by United Bank for Africa Plc with 36.4 million shares, Custodian Investment Plc with 35.6 million shares, and Tantalizers Plc with 27.6 million shares.
Sectoral performance was mixed as the Top 30 Index rose by 0.3 per cent, the Main Board Index gained 0.08 per cent, and the Industrial Index advanced by 0.03 per cent. Meanwhile, the Premium Index declined by 0.07 per cent.
Overall, the market has recorded a one-week gain of 0.89 per cent, a four-week gain of 5.27 per cent, and a year-to-date return of 6.61 per cent.
The PUNCH reported that the Nigerian Stock Exchange started the new trading week with an N8 bn decline in market value despite improvements in trading activity.
