Stock Exchange: Bulls Take Over On Tuesday

It was Bear’s party day at the trading floor of the Nigerian Stocks Exchange on Monday following which market capitalisation dipped at N20 billion or 0.10%, to close at N20.164trillion. But the bulls took over on Tuesday to clean the previous day’s mess, posting a soar away 102b market capitalisation to close at N20.27t at the end the day’s exchange.
In 3,630 deals, investors traded 218,514,879 shares with a market value of NGN1,590,430,216.98.
Other indexes indicate that trade volume went up by 4% just as the total turn over increased by 6%. However, the total number of deals went down by 8%.
Monday’s trading had 109 companies as participants out of which 15 had a front seat appearance at the gainer’s club whereas17 had a rueful section at the losers’ end. Leading the gainers’ roll call are Okomuoil with with 10% share price appreciation closing at NGN 106.15 per share.
Okomuoil was followed by Learn Africa, Champion Breweries and Unilever Nigeria, with percentage reflection of +9%, +4.71% and +3.86% respectively.
The losers club was led from the rear by Computer Warehouse Group, Regency Alliance Insurance Co, FTN Cocoa Processors and Veritas Kapital Assurance with 9.42%, -8.16% -7.69% and -7.69% respectively at NGN 1.25 per share
The highest share volumes were traded by Courteville Business Solutions having recorded the highest volume of 35.8 million traded shares. The group was followed by Fidelity Bank 26.63m, Zenith Bank 15.25m and AXA Mansard Insurance 13.87m.
The bullish breath is a departure from permutations made by stock watchers most of whom predicted at the end of Monday’s trading that bearish stock movement would continue in the light of global reaction to the ban on Twitter.

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