Lagos, Jan. 17, 2024: The stock market maintained a positive trend, due to investors’ buy interest in banking, industrial and consumer goods sector stocks.
Investor’s sustained buy interests in industries such as Dangote Cement, BUA Cement and Zenith Bank drove the market’s strong performance.
The market capitalisation gained N1.82 trillion or 3.93 per cent to close at N48.139 trillion, as against N46.316 trillion posted on Monday.
Also, the All-Share Index benchmark appreciated by 3.93 per cent or 3,330.21, to settle at 87,971.10 points.
The News Agency of Nigeria(NAN) reports that the market recorded 84,640.89 All-Share Index on Monday.
Specifically, a total of 1.07billion shares valued at N15.77 billion were exchanged in 14,505 deals.
Meanwhile, Jaiz Bank led the activity table in volume of 150.64 million shares valued at N508.44 million per share.
It was followed by AIICO Insurance in with 99.06 million shares, valued at N129.13 million per share.
First City Monumental Bank (FCMB) traded 67.59 million shares worth N814.17 million, while Sterling Bank sold 55.34 million shares transacted at N417.08 million.
Transcorp also traded 48.92 million shares worth N774.61million.
On the gainer’s table, Sterling Bank, Dangote Sugar, WAPCO, Julius Berger and HoneyFlour advanced by 10 per cent each to close at N7.59, N81.40, N47.30, N15.40 and N4.40 per share, respectively.
Conversely, Royal Exchange Assurance led in percentage terms of 8.16 per cent to close at 90k, followed by Multiverse Mining and Exploration which lost 6.59 per cent to close at N17 per share.
Ellahlakes trailed by 4.79 per cent to close at N3.38, while Oando Plc declined by 3.60 per cent to close at N12.05 per share.
UACN shed 3.13 per cent to close at N15.50 per share.
Analysis of the market activities showed, trade turnover settled higher relative to the previous session, with the value of transactions up by 42.94 per cent.