Equity market gains N101bn

Trading on the floor of Nigerian Exchange NGX on Tuesday closed northward, appreciating by N101 billion.

Market capitalisation of listed equities u by 0.15 per cent to N65.589 trillion from N65.488 trillion recorded the previous day.

The NGX All Share Index also increased by 159.86 basis points to 104376.73 points from 104216.87 points recorded the previous day.

Although the number of companies closed in red are higher, gain recorded in the shares of FirstHoldco, Oando Zenith Bank, United Bank for Africa, Fidelity Bank, VFG group, Access Bank and others outweigh losses recorded during the day.

A review of the investment showed that NSLTECH led gainers table with 8.89 per cent to close at N0.49 per unit, Abbey Building Society followed with a gain of 8.35 per cent to close at N5.58 per share, Sterling Bank added 6.85 per cent to close at N5.15 per share, VFG group increased by 5.26 per cent to close at N66.00 per share, Mutual Benefits added 4.55 per cent to close at N0.92 per unit.

On the contrary, UHOReit topped losers’ chart, dropping 9.95 per cent to close at N46.15 per share, Nahco trailed with a loss of 9.94 per cent to close at N62.95 per unit, NEM Insurance dipped by 9.92 per cent to close at N11.92 per unit, Lasaco Insurance declined by 9.86 per cent to close at N1.92 per unit and Royal Exchange depreciated by 9.78 per cent to close at N0.83 per cent.

Volume of trades increased by 16.459 million shares, representing 3.71 per cent as investors traded 460.565 million shares worth N10.105 billion in 24528 deals against 444.106 million shares worth N11.148 billion exchanged hands the previous day in 15690 deals.

Transaction in the Access Holdings company led market activities with 56.497 million shares valued at N1.185 billion, GTCO followed with account of 51.555 million shares cost N3.430 billion, Fidelity Bank traded 24.667 million shares cost N431.614 million, FCMB group exchanged 23.346 million shares valued at N208.101 million while United Capital exchanged 23.3