Bulls still on rampage as equity market gains N1.054trn
The domestic equity market on Tuesday sustained a growth profile, gaining N1.045 trillion as gains recorded in medium and highly capitalised stocks lifted market activities.
Market capitalization of listed equities appreciated by 1.56 per cent to N68.105 trillion from N67.060 trillion recorded the previous day.
The NGX All Share Index also increased by 1662.60 basis points to 108361.10 points from 106698.50 points reported on Monday.
Renewed buying interest by investors in a notable stock like MTN Nigeria, Aradel, Northern Nigeria Flour Mills, Nestle Nigeria Plc, Cadbury Nigeria, Vitafoam Nigeria Plc, Okomuoil Plc and coupled with other 35 gainers have continued to fuel the market upward trajectory.
As a result, year to date return went up to 5.28 per cent as 42 companies closed in green against 25 decliners.
An analysis of the trading during the day showed that Northern Nigeria Flour Mills, Ecobank Transnational incorporated, Nestle Nigeria Plc led gainers table with 10 per cent each, to close at N82.50, N25. 85 and 1210.00 respectively. Betaglass followed with a gain of 9.98 per cent to close at N132.80 per unit, Austinlaz added 9.94 per cent to close at N1.88 per unit.
On the contrary, Guinea Insurance topped losers’ chart, declining by 8.70 per cent to close at N0.63 per unit, Daar Communications trailed with a loss of 6.78 per cent to close at N0.55 per unit, VFG group fell by 6.59 per cent to close at N17.00 per unit, Wapic Insurance dipped by 6.07 per cent to close at N2.01 per share while Regal Insurance down by 4.67 per cent to close at N0.61 per unit.
Volume of trades declined by 93.582 million, representing 16.45 per cent as investors traded 475.459 million shares valued at N13.899 billion in 17575 d also against 569.041 million shares worth N18.934 billion exchanged hands the previous day in 18612 deals.
Transactions on the shares of Access Holding Company led market activities with 103.915 million shares valued at N2.201 billion, GTCO Plc followed with account of 37.985 million shares valued at N2.422 billion, United Bank for Africa exchanged 30.731 million shares valued at N1.038 billion, Sterling Bank traded 27.176 million shares worth N147.243 million, Zenith Bank sold a total of 26.184 million shares cost N1.234 billion.
