Bulls return as equity market appreciates by N20bn

Trading activities on the floor of Nigerian Exchange (NGX) on Tuesday closed northward, appreciating by N20 billion as gains recorded in some highly capitalised stocks impacted positively on the market.

Market capitalization of listed equities appreciated by 0.03 per cent to N68.965 trillion from N486.087 trillion reported the previous year.

The NGX All Share Index also declined by 32.64 basis points to 109730.47 points from 109697.83 points.

As a result, year to date return went rose 6.61 per cent as 31 companies closed in green against 32 firms that witnessed negative performance.

A review of the market showed that Nestle Nigeria Plc, Regal Insurance and Triple G led gainers table with 10 per cent each to N1464.10, N0.66 and N2.20 per unit respectively, Tantalizer followed with a gain of 9.88 per cent to close at N2.78 per share, Multiverse added 9.60 per cent to close at N9.70 per unit.

On the contrary, Berger paint topped losers’ chart, dropping by 9.98 per cent to close at N21.20 per unit, Mutual Benefits followed with 9.80 per cent to close at N0.92 per unit, ABC Transport dropped by 9.77 per cent to N2.40 per share, Aradel Plc down by 8.55 per cent to close at N460.00 per unit, Caverton Business fell by 7.09 per cent to close at N3.80 per unit.

Volume of trades increased by 10.972 million, representing 2.26 per cent as 497.060 million shares valued at N13.213 billion in 18795 deals against 486.087 million shares valued at N11.381 billion in 24882 deals.

Trading in the shares of Fidelity Bank led market activities with 60.180 million shares valued at N1.120 billion, United Bank for Africa followed with account of 36.397 million shares cost N1.258 billion, Custodian Insurance traded 35.644 million shares cost N 698.803 million, Tantalizer traded 27.587 million shares worth N76.434 million while United Capital exchanged 26.743 million shares worth N49.639 million.