Equities market gains N459bn

The Nigerian Exchange (NGX) extended its bullish run-on Tuesday, closing higher with a growth of 0.50 per cent driven by investors interest in blue chip stocks such as BuaCement, Oando, Transnational corporation of Nigeria.

Market capitalisation of listed equities appreciated by N459 billion to N91.608 trillion from N91.149 trillion reported the previous day.

The NGX All Share Index also increased by 724.59 basis points to 144796.37 points from 144071.73 reported the previous day.

The market activity went up slightly at the close of trading during the day. the total traded value increased by 17.28 per cent to N22.836 billion while volume traded up by 26.62 per cent to 1.027 units.

The market rally was fuelled by gains in the Aradel Plc, Honey Well Flour Mills, Unilever Nigeria Plc and 47 other firms.

The market breath was positive with 51 advancers against 22 decliners. As a result, year to date return went to 40.68 per cent.

An analysis of the investment showed that Five companies recorded gain of 10 per cent each. Mutual Benefits Insurance SUNU Assurance, Neimeth international Pharmaceutical added 10 per cent each to close at N2.20, N4.84 and N7.70 per share respectively.

AIICO Insurance and Enamelwa increased by 10 per cent each to close respectively at N2.64 and N29.70 per unit.

On the contrary, Living Trust Insurance topped losers’ chart, dropping 9.86 per cent to close at N5.94 per unit, UPDC REIT followed with 9.63 per cent to close at N8.45 per unit, Academy Press dropped by 9.60 per cent to close at N8.95 per share, Mecure fell by 9.20 per cent to close at N15.80 per unit, Cadbury Nigeria Plc dipped by 7.35 per cent to close at N63.00 per share.

Transactions on the shares of AIICO Insurance led trading activities with 97.102 million shares valued at N255.285 million, Universal insurance followed with 87.258 million shares valued at N71.015 million, Linkage Assurance traded 64.033 million shares cost N101.338 million, Fidelity Bank exchanged 59.213 million shares valued at N1.247 billion, Veritas Kapital exchanged 50.176 million shares worth N83.169 million.