Investors on Nigerian bourse gain N67bn on Tuesday as bullish rally continues

Nigerian bourse continued the bullish rally that began on Monday on Tuesday as investors on the Exchange gained N67 billion on Tuesday as the market capitalisation rose from N15.882 trillion on Monday to  N15.949 trillion on Tuesday while the All-Share Index rose from 44,306.48 basis points  to 44,493.79.

The share price of the under-valued banking stocks led by Diamond Bank Plc has continued to edge higher in keeping with the current market momentum.

Diamond Bank Plc recorded 10 per cent increase to bring its share price to N3.19 from N2.90 per share as HoneyWell Flourmill Plc nudged up by 10 percent to close the day’s activity at N3.08 from N2.80 at the beginning of the trading today.

Skye Bank Plc and Sterling Bank Plc were also up by 10 percent each to close at N1.54 from N1.40 and N2.20 from N2.00 per share respectively.

NPF Micro-finance Bank Plc closed the list of the top five gainers, appreciating by 9.88 percent to close at N1.78 from N1.62 per share.

On the other hand, ABC Transport, one of the stocks to have dropped below the N0.50 band on Monday also led the losers after shedding 8.33 percent to close at N0.44 from N0.48 per share.

Royal Exchange Plc, which also fell by 8.33 percent to close at N0.44 from N0.48 per share. FTN Cocoa Plc went down by eight percent to close at N0.46 from N0.50 per share. Cutix Plc depreciated by five percent to close at N2.28 from N2.40 per share, while Nigeria Aviation Handling Company Plc closed the list of the top five loser with 4.63 percent decrease to close at N3.91 from N4.10 per share.