Domestic equities remain bullish, gains N469bn

The Nigerian equities market continued its impressive growth on Tuesday, appreciating by N469 billion as investors’ confidence remained firmly strong on equities.

Investors during the day sustained buying interest across major sectors, reflecting improving risk appetite and ongoing portfolio rebalancing by both domestic and institutional investors

This impacted on the equities resulting in Market capitalisation of listed equities growing by 0.46 per cent to N102.275 trillion from N101.806 trillion reported the previous day.

The NGX All Share Index also increased by 735.60 basis points to 159951.08 points from 159215.48 points traded on Monday.

The market’s positive tone was underpinned by strong participation in banking, insurance, consumer goods and among others.

The positive performance in the shares of Dangote Cement, GTCO Plc, Wapco , Multiverse and 61 others boasted trading activities.

The market breath was positive with 65 advancers against 21 decliners bringing year to date return to 2.79 per cent.

An analysis of the investment showed that Meyer Paint and Jaiz Bank led gainers table with 10 per cent each to close at N14.30 and N5.28 per unit respectively.

ABC Transport followed with a gain of 9.98 per cent to close at N4.96 per unit, Living Trust Insurance and AustinLaz added 9.94 per cent each to close at N3.76 and N5.64 per unit respectively.

On the contrary, Alex Plc topped losers’ chart, dropping by 9.96 per cent to close at N21.70 per unit, Learn Africa trailed with a loss of 9.16 per cent to close at N5.95 per unit, Oando Plc dipped by 8.03 per cent to close at N40.65 per share, Conhall Plc sheds 5.34 per cent to close at N4.43 per unit, Access Holdings company declined by 5.00 per cent to close at N23.75 per unit.

Volume of shares traded up by 49.556 million, representing 7.12 per cent as investors traded 745.204 million shares against 695.648 million reported the previous day. Value of transactions also went up by 4.48 per cent to settle at N19.398 billion in 53632 deals.

Transactions in the shares of Linkage Assurance led market activities with 51.634 million shares cost N93.132 million, Sterling Bank followed with account 49.025 million shares valued at N367.625 million, Access Holdings Company exchange 48.031 million shares worth N1.160 billion, Mutual Benefit traded 34.676 million shares valued at N141.965 million while Regal Insurance exchanged 26.327 million shares cost N33.571 million.