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The market
capitalisation of equities at the Nigerian Stock Exchange (NSE), on
Tuesday, hit N8.884 trillion as transactions closed on a positive note.

Subsequently, it
rose by 0.10 per cent or N9 billion at the close of yesterday’s trading
from Monday’s figures of N8.875 trillion. The market had gained N27
billion at the close of trading session on Monday. The last time the
Exchange recorded market capitalisation in N8.88 trillion regions was
over two years ago.

The NSE sectoral
indices closed with mixed sentiments as NSE-30, which measures the
performance of blue chips in the market, dropped by 0.11 per cent; the
NSE oil & gas gained the highest points by 0.89 per cent; food
& beverages inched up by 0.72 per cent; insurance moved up by 0.66
per cent, while the NSE banking maintained negative trend to decline by
0.99 per cent.

Analysts at
Proshare Nigeria, an investment advisory firm, said market activities
on Tuesday closed with “growing posture”, as more gainers came on board
while “bulls maintained dominance across sectors, as the NSE sectoral
indices closed with impressive figures.”

However, they said
that profit booking was noticed yesterday in the Banking, Other
Financial Institution, Mortgage and Foreign Listings sectors.

Stockbrokers at GTI
Capital, a stock broking company, said, “It is very likely that most
short positions (investors) will start running off with their profits
which in turn will create room for new entry opportunities,” adding
that “traders should position accordingly.”

Most active

The banking
subsector was the most active on Tuesday with 528.51 million units
valued at N5.69 billion as against the 614.00 million units valued at
N5.76billion recorded in the previous session. The volume recorded in
the sector was driven by transaction in the shares of First Bank, Unity
Bank, FinBank, Guaranty Trust Bank, and UBA.

The total volume of
363.88 million units valued at N4.69 billion traded in the shares of
the five stocks accounted for 46.61 per cent of the entire market
volume and their value represented 62.96 per cent of the market’s value.

The food and
beverages sector followed on the chart with 33.748 million shares
boosted by trading on the shares of Dangote Sugar, while volume in the
insurance sector was third with 26.245 million shares worth N39.906
million.

The number of
gainers at the close of trading session closed higher yesterday at 57
stocks, as against the 47 gainers recorded the previous session,while
losers closed at 18; same position with Monday’s record.

Northern Nigeria
Flour Mills topped the price percentage gainers with 4.99 per cent as
it closed at N43.96 from N41.87. The share price of Julius Berger
Paints attracted 4.96 per cent on its opening price to close at N9.74.

Meanwhile, the NSE,
on Tuesday, added the names of additional four stockbroking firms to
the list of suspended stockbrokerages that have not met the minimum
capital base of N70 million stipulated by the Securities and Exchange
Commission to dealing members of the Exchange.

The four firms are Capital Bancorp, Profund Securities, Santrust
Securities, and Vetiva Securities. The NSE, however, noted that 10 of
the suspended stockbrokerages have met the requirement.