Bulls return as domestic equities gain N516bn

Transactions on the floor of Nigerian Exchange NGX on Tuesday closed in an upward trajectory, gaining N516 billion, as gains in heavyweight stocks boosted trading activities.

Market capitalization of listed equities appreciated by 0.40 per cent to N129.209 trillion from N128.693 trillion reported the previous day.

The NGX All Share Index also increased by 803.35 basis points to 201287.78 points from 200484.43 points it closed on Monday.

The positive performance was driven by gains recorded in the stocks of MTN Nigeria, Nigerian Breweries, GTCO Plc, Cadbury, Wapco, PZ and among others.

The market breath was negative with 49 decliners against 20 advancer but with gains in capitalised stocks the year to date return closed higher to 29.35 per cent.

An analysis of the trading during the day showed that Multiverse led gainers table with 9.88 per cent to close at N18.35 per unit, International General Insurance followed with a gain of 9.49 per cent to close at N3.23 per unit, Chams added 8.40 per cent to close at N4.39 per share, MTN Nigeria increased 5.85 per cent to close at N760.00 per unit, PZ grew by 4.59 per cent to close at N82.00 per share.

Conversely, NPF Micro Finance Bank led topped losers chart, dropping by 10 per cent to close at N6.30 per unit, SkyAVN trailed with a loss of 9.97 per cent to close at N143.10 per share, Zichis declined by 9.96 per cent to close at N13.65 per share, Mutual Benefits down by 9.91 per cent to close at N4.09 per share, RTBriscoe fell by 9.90 per cent to close at N9.65 per unit.

Volume of trades went up by 262.164 million, representing 44.18 per cent as investors traded 855.414 million shares against 593.250 million shares reported the previous day. Value of transactions rose by 5.39 per cent to settle at N27.032 billion in 53016 deals.