The bulls yesterday returned to the Nigerian Stock Market after a week of sustained bearish trend that depressed the equity market following price gains recorded by most blue-chip stocks.
Consequently, the All-share index rose by 172.95 basis points or 0.6 per cent from 24,889.74 recorded on Monday to 25,062.69 while market capitalisation increased by N55 billion or 0.6 per cent from N7.958 trillion to N8.013 trillion.
At the close of transactions, 27 stocks recorded price appreciation compared to 25 that constituted the losers’ chart.
May and Baker led others on the gainers’ chart with 4.97 per cent to close at N3.80 per share. Oceanic Bank followed with a gain of 4.96 per cent to close at N1.27 while StanbicIBTC added 4.95 per cent to close at N9.76 per share.
On the losers’ table BOC Gas and TrippleG topped the chart with 4.97 per cent each to close at N7.45 and N3.25 per share respectively. NIWI Cable followed with 4.92 per cent to close at 58 kobo while UNTL trailed with 4.84 per cent to close 59 kobo per share.
Further analysis showed that on the activity chart, the banking sub-sector, fuelled by the activities in the shares of Unity Bank and UBA maintained its dominance in volume terms with 170.7 million shares worth N987.8 million in 3,144 deals followed by the insurance sub-sector which traded 55 million units valued at N75.3 million in 484 deals.
On the whole, investors staked a total of 284 million shares worth N2.1 billion in 5,365 deals.