Specifically, at the close of transactions, the All -Share Index (ASI) rose by 32.11 points or 0.12 percent to 26,397.94 points. Accordingly, investors gained ₦15 billion in value as market capitalisation rose to ₦12.850 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which were; Dangote Cement, United Bank for Africa (UBA), FBN Holdings, UACN Property Development Company, and Omoluabi Mortgage Bank.
Analysts at Afrinvest Limited said: “Notwithstanding yesterday’s positive performance, we maintain our bearish outlook on the market, although we expect third-quarter earnings to guide investors sentiment.”
However, market breadth closed negative as eight stocks posted gains while 11 stocks declined. Omoluabi Mortgage Bank recorded the highest price gain of 10 percent to close at 55 kobo per share.
UACN Property Development Company followed with nine percent to close at ₦1.09, while AG Leventis & Company appreciated by 7.69 percent to close at 28 kobo, per share.
UBA rose 2.63 percent to close at ₦5.85, and FBN Holdings 1.89 percent to close at ₦5.40, per share.
On the other hand, Union Diagnostic and Clinical Services led the losers’ chart with 8.33 percent to close at 22 kobo per share.
Lasaco Assurance followed with 7.14 percent to close at 26 kobo, and Jaiz Bank was down 6.25 to close at 45 kobo, per share.Access Bank lost 3.40 percent to close at ₦7.10, while Lafarge Africa shed 2.97 percent to close at ₦14.70, per share.
The total volume traded dropped by 58.08 percent to 290.94 million shares worth ₦2.78 billion, traded in 2,668 deals. Transactions in the shares of Omoluabi Mortgage Bank topped the activity chart with 122.5 million shares valued at ₦67.38 million.
UACN Property Development Company followed with 30.30 million shares worth ₦31.82 million, while Zenith Bank traded 26.81 million shares at ₦460.86 million.
Guaranty Trust Bank traded 18.06 million shares valued at ₦475.05 million, while FBN Holdings transacted 17.56 million shares worth ₦94.17 million.
