Equity market gains N1.518trn
The equities market on Tuesday closed on a strong bullish run, extending the momentum from the previous trading session, gaining N1.518 trillion as investors sustained aggressive buying activities.
The local equities maintained positive sentiment, reflecting improved investor confidence, stronger institutional participation and renewed positioning in fundamentally sound companies with attractive earnings prospects and dividend potential.
As a result Market capitalization of listed equities appreciated by 0.94 per cent to N161.774 trillion from N160.258 trillion it closed on Monday.
The NGX All Share Index also increased by 1926.13 basis points to 252411.67 points from 250485.54 points traded the previous day.
The market was lifted by gains recorded in the capitalised and mid caps stocks, bringing market breath on positive note with 45 gainers against 32 losers while the year to date return rose to 62.04 per cent.
Capital market operators said the sustained rally in the equities market highlights the resilience of listed companies despite prevailing macroeconomic challenges, including elevated inflationary pressures, exchange rate volatility and tight monetary conditions.
They pointed out that investors have continued to seek opportunities in quality stocks capable of delivering inflation-beating returns, while sustained liquidity inflow into the market further strengthened buying momentum across major sectors.
An analysis of the investment showed that Unilever Nigeria Plc, UPL led gainers table with 10 per cent each to close at N165.00, N4.40 per unit respectively.UHOMreit and Ikeja Hotel also appreciated by 10 per cent to close respectively at N84.70 and N39.60 per unit.Zichis followed with a gain of 9.98 per cent to close at N40.35 per unit.
On the contrary, Custodian insurance topped losers chart, dropping by 9.52 per cent to close at N81.25 per unit, HoneyWell Flour trailed with a loss of 8.11 per cent to close at N17.00 per share, AIICO insurance down by 7.74 per cent to close at N4.41 per share, FTGinsurance fell by 7.02 per cent to close at N1.06 per share, NSLTech declined by 5.38 per cent to close at N0.88 per unit.
Volume of trades rose by 542.0 billion representing 36.49 per cent as investors traded 2.027 billion shares against 1.485 billion recorded the previous day. Value of share increased by 32.51 per cent to settle at N87.709 billion in 80888 deals.
Trading in the shares of CWG led market activities with 431.630 million shares valued at N9.494 billion, United Bank for Africa followed with 403.087 million shares cost N16.607 billion, C&I Leasing traded 152.118 million shares worth N1.004 billion, Fidelity Bank exchanged 84.668 million shares cost N1.697 billion, HoneyWell Flour traded 72.395 million shares valued at N1.237 billion.
