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Published On: Tue, Nov 13th, 2018

Bargain hunting pushes Nigerian equities market up 0.03% 

The Nigerian Stock Exchange

The Nigerian Equity Market reversed previous day’s negative sentiment as it closed higher on Tuesday, gaining 0.03 per cent on the back of speculative trading on banking and industrial stocks.

The All Share Index (ASI) increased by 9.49 absolute points, representing an increase of 0.03 per cent, closing at 32,152.90 points, while Market Capitalization rose by N3.52 billion representing 0.03 per cent to close at N11.74 trillion.

Of Unity Bank appreciated by 9.86 per cent to top 15 other gainers and C & I Leasing declined -10 per cent to lead 25 losers.

The upturn was impacted by gainers recorded in medium and large capitalized stocks, amongst which are; UNITYBNK (9.86%), DANGFLOUR (4.27%), STANBIC (2.13%), FLOURMILL (2.12%), UBA (1.27%), ZENITHBANK (1.04%) OANDO (1.01%) and ACCESS (0.64%).

Investors traded Ikeja Hotel 279,104,878 shares valued at N572.16 million to make the most active stock in terms of volume and value.

Investors exchanged 399,757,012 stocks worth N2.24 billion in 2,880, but the bourse has shed -15.93 per cent since the beginning of the year to date.

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