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Amid persistent increase in COVID-19 cases, stock market investors traded about 467.88 million shares worth N5.56 billion in 5,990 deals at the close of trading on Tuesday. This was in contrast to 333.09 million units and N2.64 billion, which changed hands in 5,640 deals in the previous trading session.
Following strong demand in Airtel Africa, MTNN and Wapco, the All Share Index (ASI) rose by 1.21 per cent to close at 41,584.94 points. Consequently, the year-to-date (YTD) return improved to 3.3 per cent while market capitalisation increased N259.4 billion to settle at N21.753 trillion. The most traded stocks by volume were Transcorp (45.9 million units), Mansard (34.7 million units) and Sovereign Insurance (26.4 million units) while Airtel Africa(N1.2 billion), Zenith Bank (N501.0 million) and Dangote Cement(N494.6 million) topped by value. Commenting on the performance of the market, Afrinvest, said, “We expect the positive momentum to continue in subsequent trading sessions”.
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Meanwhile, investors’ appetite for stocks increased as 32 equities appreciated while 19 others depreciated in value. RT Briscoe topped the gainers’ chart with 10 per cent to close at 0.22 kobo per share.
