Domestic equities gains N764bn

Trading on the floor of Nigerian Exchange on Tuesday sustained a growth profile, appreciating by N764 billion as the market dominated with bullish activities.

As a result, market capitalization of listed equities rose by 1.021 per cent to N75.576 trillion from N74.812 trillion it closed on Monday.

The NGX All Share Index also appreciated by 1211.17 basis points to 119790.82 points from 118579.65 points reported the previous day.

The growth trend in the market was driven by gains in the shares of Dangote Sugar, Okomuoil, Betaglass and 58 companies.

The market sentiment remained broadly positive, reflected by the strong market breadth of 61 stocks recorded gain against 22 losers while year to date return went up to 16.38 per cent.

An analysis of the trading during the day showed that the NGX trading result showed that four companies recorded 10 per cent gain at the end of transactions on Tuesday.Dangote Sugar, Okomu Oil, UPDC and Betaglass   gained 10 per cent each to close at N44.00, N748.00, N3.30 and N333.95 per share respectively. Champion Breweries followed with a gain of 9.98 per cent to close at N9.92 per unit.

On the contrary, Daar Communications topped losers’ chart, dropping by 7.81 per cent to close at N0.59 per share, Prestige Insurance trailed with a loss of 5.56 per cent to close at N1.02 per share, IMG dipped by 4.30 per cent to close at N33.40 per unit, NPF micro–Finance Bank down by 4.25 per cent to close at N2.03 per unit, Aradel Plc dropped by 4.06 per cent to close at N515.00 per unit.

Volume of trades increased by 215.023 million, representing 32.89 per cent as investors traded 868.679 million shares valued at N23.708 billion in 22207 deals against 653.656 million shares worth N21.327 billion in 22206 deals.

Transactions in the shares of Living Trust Insurance led market activities with 112.269 million shares worth N415.675 million, Royal Express followed with 103.584 million shares cost N113.795 million, Fidelity Bank traded 83.927 million shares worth N1.632 billion, AccessCorp exchanged 53.602 million shares cost N1.263 billion while Zenith Bank sold a total of 34.211 million shares valued at N1.768 billion.