Domestic equities gain N94bn

The domestic equity market on Tuesday returned to bullish run, appreciating by N94 billion as bulls dominated trading activities for the day.

Market capitalization of listed equities increased by 0.10 per cent to N91.440 trillion from N91.346 trillion reported the previous day.

The NGX All Share Index also appreciated by 148.52 basis points to 143763.13 points from 143614.61 points recorded on Monday.

The market breath was positive with 26 gainers against 20 losers, bringing year to date return to 39.68 per cent.

Volume of trades declined by 138.624 million, representing 19.95 per cent as investors traded 556.153 million against 694.777 million reported the previous day. Value of transactions also went down by 34.73 per cent to settle at N18.713 billion in 19500 deals.

An analysis of the investment showed that NCR led gainers table with 9.98 per cent to close at N45.20 per unit, Ikeja Hotel followed with a gain of 9.86 per cent to close at N22.85 per unit, Prestige insurance added 9.56 per cent to close at N1.49 per share, Eunisell Plc gained 9.49 per cent to close at N86.50 per unit, Sterling Bank up by 8.96 per cent to close at N7.30 per share.

On the contrary, Union Dicon and Caverton Business Solutions topped losers’ chart with 10 per cent each, to close at N6.30 and N4.95 per unit respectively. SUNU Assurance trailed with a loss of 4.78 per cent to close at N4.38 per unit, Lasaco Insurance dipped by 4.58 per cent to close at N2.50 per share, Mansard Insurance went down by 4.23 per cent to close at N12.45 per share.

Transactions in the shares of FirstHoldco Plc led market activities with 93.716 million shares valued at N2.908 billion, Access Holdings company followed with account of 81.763 million shares worth N1.689 billion, Fidelity Bank exchanged 41.793 million shares cost N796.389 million, FCMB group traded 38.027 million shares worth N386.755 million, United Bank for Africa traded 31.950 million shares cost N1.151 billion.