Equity market bullish, gains N26bn
The local equity market on Tuesday sustained a growth profile, appreciating by N26 billion as gains recorded in small and medium stocks impacted positively on the trading.
Market capitalisation of listed equities increased by 0.04 per cent to N66.214 trillion from N66.188 trillion reported on Monday.
The NGX All Share Index also appreciated by 41.99 basis points to 105593.28 points from 105551.39 points recorded the previous day.
The positive performance witnessed in the market during the day was driven by gains in the shares of FirstHoldco, Cadbury Nigeria Plc, GTCO Plc, United Capital, Fidelity Bank, Zenith Bank and other 23 firms.
As a result, year to date return increased to 2.59 per cent as 29 companies closed in green against 21 decliners.
A review of the investment showed that May and Baker led gainers table with 10 per cent to close at N8.80 per share, Mutual Benefits followed with a gain of 9.59 per cent to close at N0.80 per unit, Entranzact gained 9.38 per cent to close at N5.25 per share, Abbey Building Society gained 8.86 per cent to close at N4.30 per share, Conhall Plc increased by 8.79 per cent to close at N3.59 per unit.
On the contrary, Eterna Plc topped losers’ chart, declining by 9.21 per cent to close at N34.50 per unit, Royal Express trailed with a drop of 7.95 per cent to close at N0.81 per unit, Veritas Kapital down by 5.98 per cent to close at N1.10 per share, Wapic Insurance declined by 5.88 per cent to close at N2.24 per unit, Oando dipped by 5.66 per cent to close at N50.00 per share.
Volume of trades declined by 91.193 million shares, representing 20.70 per cent as investors traded 349.326 million shares valued at N15.075 billion in 12450 deals against 440.519 million shares worth N10.470 billion in 13314 deals.
Trading in the shares of Access Holding Company led market activities with 36.596 million shares valued at N810.888 million, United Bank for Africa followed with account of 26.538 million shares valued at N1.003 billion, Universal insurance traded 22.021 million shares worth N12.808 million, Fidelity Bank exchanged 20.485 million shares cost N380.598 million while Zenith Bank traded 20.137 million shares cost N970.325 million.
