Business and Economy

Nigerian stock market gains 2.97% (N1.56 trillion) on Tuesday

The Nigerian stock market continued its positive market performance on Tuesday as the All Share Index gained 2.97% to close at 98,616.97 points. As a result, the year-to-date return increased to 31.89%, and the market capitalization gained ₦1.56 trillion, closing at ₦53.97 trillion. The market’s strong performance was driven by sustained buying interest in industrial heavyweights such as DANGCEM (+9.99%), BUACEMENT (+10.00%), and SEPLAT (+10.00%), which offset the sell-offs in ZENITHBANK (-4.43%), GTCO (-3.51%), and UBA (-3.07%).

Trade turnover was also higher compared to Monday’s session, with the value of transactions increasing by 12.97%. A total of 747.51 million shares, valued at ₦16.28 billion, were exchanged in 16,589 deals. TRANSCORP (-9.99%) topped the volume chart with 77.71 million units traded, while DANGCEM (+9.99%) led the value chart with deals worth ₦3.11 billion. PZ (-10.00%) was the top laggard among forty-nine others, while BUACEMENT (+10.00%) led sixteen others on the leader’s log.

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