Investors gain N110bn as Cornerstone, Hallmark, Chams drive market rally

By Seun Ibiyemi 

Investors in the Nigerian equities market gained N110 billion at the close of trading on Tuesday, buoyed by strong performances from Cornerstone Insurance, Consolidated Hallmark Plc, and Chams Plc, among others.

The benchmark All-Share Index (ASI) appreciated to 144,995.26 points from 144,822.77 points recorded the previous day, while the market capitalisation rose to N92 trillion from N91.9 trillion on Monday.

The market breadth was positive, with 39 stocks advancing, 34 declining, and 74 remaining unchanged after 30,681 deals.

Leading the gainers’ chart, Cornerstone Insurance, Consolidated Hallmark Plc, and Chams Nigeria recorded 9.92 per cent, 9.52 per cent, and 9.22 per cent growth respectively in their share prices to close at N6.65, N4.37, and N4.62 per share, up from N6.05, N3.99, and N4.23.

Conversely, LivingTrust Mortgage Bank, Austin Laz, and Juli Plc topped the losers’ chart with declines of 10 per cent, 9.47 per cent, and 9.60 per cent to close at N5.94, N3.15, and N8.95 per share, from N6.60, N3.49, and N9.90 respectively.

On the activity chart, Access Holdings Plc dominated the volume index with 45 million shares traded in 1,412 deals, followed by Ellah Lakes Plc with 39 million shares in 1,351 deals, and Chams Plc, which exchanged 30 million shares in 1,005 deals.

In terms of value, Aradel Holdings Plc led with stocks worth N13.1 billion traded in 696 deals, while Dangote Cement and Access Holdings followed with equities valued at N1.5 billion and N1.1 billion, respectively.