The Nigerian stock market sustained its upward momentum on Tuesday, gaining N259 billion as investor buying interest strengthened across key sectors.
At the close of trading, the market capitalisation rose by 0.37 per cent to N70.894 trillion, up from N70.635 trillion on Monday.
Similarly, the All-Share Index (ASI) appreciated by 411.52 points or 0.37 per cent to close at 112,427.48.
The positive performance was largely driven by strong buying interest in medium and large capitalised stocks such as Honeywell Flour Mill, SCOA Nigeria, SFS Real Estate Investment Trust, and Industrial & Medical Gases, among others.
Market breadth also closed positive, with 36 equities recording gains against 32 losers.
On the gainers’ chart, Honeywell Flour Mill rose by 10 per cent to close at N22.00, while SCOA Nigeria also appreciated by 10 per cent, finishing at N5.39 per share.
SFS Real Estate Investment Trust gained 10 per cent to settle at N226.60, Industrial & Medical Gases increased by 9.96 per cent to N37.00, and International Energy Insurance climbed by 9.82 per cent to close at N1.79 per share.
Conversely, Conoil led the losers’ chart with a 10 per cent drop to N268.30. Learn Africa declined by 9.98 per cent to N3.88, Transcorp Hotels fell by 9.97 per cent to N132.80, and Julius Berger shed 9.94 per cent to close at N120.50 per share. Chellaram also dipped by 9.92 per cent to N9.53 per share.
Total turnover stood at 622.64 million shares valued at N16.12 billion, traded in 17,044 deals.
Fidelity Bank led the activity chart with 108.17 million shares worth N2.05 billion.
Legend Internet Plc followed with 60.95 million shares valued at N344.36 million, while United Bank for Africa (UBA) recorded trades of 55.74 million shares worth N1.93 billion.
Guaranty Trust Holding Company exchanged 41.23 million shares valued at N2.80 billion, and Access Corporation traded 34.51 million shares for N754.43 million.
