The bullish trading on the Nigerian Exchange extended to its seventh consecutive day, on Tuesday, taking the market capitalisation to a new high of N58.53tn.
The All-Share Index ticked up by 1.45 per cent to close at 103,524.44 points, a milestone it surpassed in February before the market retraced its steps following sell pressures amid high yields in the bond market.
The market’s bullish trend comes ahead of the February Consumer Price Index for February, which will be out this week and may influence the Central Bank of Nigeria’s next Monetary Policy Committee meeting.
The market movers were Transcorp, Access Holdings and Guaranty Trust Holding Company Plc, reflecting a similar pattern to Monday’s trading.
The total number of gainers stood at 35 led by United Bank for Africa, which gained 10 per cent to close at N25.30, MTN Nigeria advanced by 9.98 per cent to N243.50 and Julius Berger added 9.71 per cent to close trading at N61.
Tantalizer dipped by 7.89 per cent to N0.35; NASCON Allied Industries, whose investors have been offloading its shares in days declined 6.77 per cent to N53.70 and Morison Industries Plc lost 6.62 per cent to close at N1.41, to top 11 other losers.
Investors traded 565.79 million units of shares valued at N14.23bn exchanged in 11,519 deals.
SOURCE: PUNCHNG
