Bulls still on rampage, equity market gains N122bn

Trading activities on the floor of Nigerian Exchange on Tuesday sustained growth profile appreciating by N122 billion.

Market capitalization of listed equities increased by 0.20 per cent to N59.923 trillion from N59.801 trillion reported the previous day.

The NGX All Share Index also appreciated by 201.97 basis points to 98892.58 points from 98690.61 points reported the previous day.

The good performance recorded during the day was driven primarily by gains in the shares of FBNHoldings, Oando Plc, GTCO Plc, Transco Hotel, United Bank for Africa, Zenith Bank UACN and other 17 companies.

As result year to date return went to 32.26 points as 23 companies recorded positive growth against 15 firms that closed in red.

An analysis of the investment showed that Transco Hotel led gainers table, gaining 9.28 per cent to close at N106.00 per unit, Wapic Insurance followed with a gain of 9.09 per cent to close at N0.96 per share, UPDC gained 6.90 per cent to close at N1.55 per unit, Universal insurance added 5.88 per cent to close at N0.36 per unit, ABC Transport increased by 4.65 per cent to close at N1.35 Kobo per unit.

On the contrary, JohnHolt recorded the highest loss at the close of trading, dropping by 9.84 per cent to close at N2.75 per share, Tantalizer trailed with a loss of 9.84 per cent to close at N0.55 per unit, Dangote Sugar down by 8.82 per cent to close at N31.00 per share, Regal Insurance dipped by 7.14 per cent to close at N0.52 per share, Honey Well Flour Mills declined by 5.81 per cent to close at N4.38 per share.

Volume of shares traded increased by 185.988 million, representing 45.92 per cent as investors traded 591.010 million shares valued at N24.844 billion in 6987 deals against 405.022 million shares worth N27.568 billion in 8281 deals.

Transactions in the shares of Champion Breweries led gainers table with 255.276 million shares valued at N1.020 billion.

Japaul Gold followed with account of 108.849 million shares valued at N255.821 million, United Bank for Africa exchanged 44.989 million shares worth N1.191 billion, FCMB group traded 19.153 million shares cost N160.372 million while C&I Leasing exchanged 16.912 million shares cost N59.074 million.