Equities market remains bullish, gains N203bn

NIgeria’s equity market on Tuesday sustained a growth trajectory, appreciating by N203 billion, driven by bullish activities.

Market capitalisation of listed equities increased by 0.23 per cent to N89.696 trillion from N89.493 trillion reported on Monday.

The NGX All Share Index also appreciated by 327.95 basis points to 141761.38 points from 141433.41 points recorded the previous day.

The market breadth was negative with 32 decliners against 27 advancers, bringing year to date return to 37.73 per cent

Although the market recorded more losses during the day, gains recorded in the shares of Oando Plc, Cadbury Nigeria Plc, Betaglass, GTCO Plc, Fidelity Bank, Zenith, NCR among others impacted positively on the performance of the market pushing it to positive direction.

Volume of transactions increased by 13.772 million, representing 2.33 per cent as investors traded 605.017 million units of shares against 591.245 million traded on Monday, Value of trades surged by 10.61 per cent to settle at N12.895 billion executed in 28845 deals.

A review of trading during the day showed that NCR Plc led gainers table with 10 per cent to close at N11.55 per unit, SFS REIT followed with a gain of 9.99 per cent to close at N301.55 per share, Berger Paint added 9.06 per cent to close at N34.90 per unit, Betaglass gained 8.16 per cent to close at N486.00 per share, Cadbury Nigeria Plc increased by 8.04 per cent to close at N62.50 per share.

On the contrary, Legend Internet topped losers’ chart, dropping by 10 per cent to close at N5.40 per unit, NSLTech trailed with a loss of 9.25 per cent to close at N0.98 per share, Cutix Plc fell by 8.97 per cent to close at N3.55 per unit, UACN declined by 8.69 per cent to close at N73.00, Deap Capital dropped by 8.29 per cent to close at N1.66 per share.

Transactions in the shares of FCMB group led market activities with 89.297 million shares worth N950.796 million, Veritas Kapital followed with 68.493 million shares worth N154.195 million, AIICO Insurance traded 36.152 million shares worth N152.488 million, NSLTech exchanged 27.298 million shares valued at N27.062 million while Mutual Benefits traded 23.510 million shares cost N104.947 million.