The Nigerian stock market recorded transactions of 4.68 billion shares valued at N38.86 billion in 34,852 deals on Tuesday, reflecting increased trading activity compared with the previous session.

This represents a rise from the 1.47 billion shares worth N35.5 billion traded in 47,892 transactions on Monday, indicating a 219 per cent increase in volume, a nine per cent rise in value and a 27 per cent decline in the number of deals.

Cornerstone Insurance dominated trading activity, accounting for 3.67 billion shares valued at N18.53 billion. This represented 78.36 per cent of total volume and 47.69 per cent of the total value traded during the session.

The equities market sustained its positive momentum, with investors’ portfolios gaining N411 billion.

Market capitalisation rose by N411 billion, or 0.42 per cent, to close at N98.843 trillion, up from N98.432 trillion recorded on Monday.

Similarly, the All-Share Index (ASI) appreciated by 645.19 points, or 0.42 per cent, to settle at 155,034.72, compared with 154,389.53 in the previous session.
As a result, the year-to-date return advanced to 50.63 per cent.

Market breadth closed positive, with 47 gainers against 24 losers.

Julius Berger, Honeywell Flour and Guinness Nigeria topped the gainers’ chart with 10 per cent appreciation each, closing at N152.90, N21.45 and N1.32 per share, respectively.

Austinlaz rose by 9.94 per cent to close at N3.87, while Multiverse Mining gained 9.88 per cent to finish at N13.35 per share.

On the losing side, Union Dicon Salt and Livingtrust Mortgage Bank led the decliners with 10 per cent drops each, closing at N6.30 and N3.42 per share, respectively.

First Holding Company fell by 9.94 per cent to N44.40, Veritas Kapital Assurance declined by 7.47 per cent to N1.61, while Mutual Benefits Assurance shed 7.46 per cent to close at N3.10 per share.