Business and Economy

Nigerian stock market continues gains with 3.93% (N1.82 trillion) on Tuesday

The Nigerian stock market continued its upward trend with the benchmark index closing 3.93% higher at 87,971.10 points on Tuesday. As a result, the year-to-date return rose to 17.65% and the market capitalization increased by ₦1.82trn to reach ₦48.14trn.

The strong performance was driven by increased buying interest in major industrial companies such as DANGCEM (+9.84%), BUACEM (+9.96%), and ZENITHBANK (+2.92%). Despite some selling pressure on UCAP (-1.57%), MANSARD (-1.39%), and CUSTODIAN (-2.04%), the market still managed to maintain its positive momentum.

Trade turnover was also higher compared to that of Monday with the value of transactions increasing by 42.94%. A total of 1.07bn shares valued at ₦15.77bn were exchanged in 14,505 deals. JAIZBANK (+9.94%) led the volume chart with 150.64m units traded, while NASCON (+10.00%) led the value chart with deals worth ₦2.57bn DANGSUGAR (+10.00%) emerged as the top gainer among 66 others, while ROYALEX (-8.16%) led the laggards’ list of nine companies.

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