Equity market gains N145bn

Despite the ongoing strike by the Nigeria Labour Congress and the Trade Union Congress, trading activities on the floor of Nigerian Exchange Tuesday returned to bullish trend, appreciating by N145 billion.

The NLC and TUC on Tuesday withdrew their service nationwide over the assault on NLC President Joe Ajaero in Owerri, the Imo State Capital.

Market capitalization of listed equities increased by 0.37 per cent to N38.940 trillion from N38.795 trillion reported the previous day.

The NGX All Share Index also appreciated by 227.91 basis points to 70840.72 points from 70612.81 points on Tuesday.

An analysis of the investment showed that Northern Nigeria Flour Mills led gainers table in percentage terms, gaining 10 per cent to close at N19.80 per share, Mecure followed with a gain of 9.98 per cent to close at N4.74 per unit, C &I Leasing added 9.97 per cent to close at N3.75 per share, Meyer Pant increased by 9.96 per cent to close at N2.98 per unit, Living Trust Insurance added increased by 9.96 per cent to close at N2.98 per unit.

On the contrary,  Redstarex topped losers chart declining by 9.76 per cent to close at N2.96 per share, FTN Cocoa trailed by 9.29 per cent to close at N1.66 per unit, Mutual Benefits down by 5.77 per cent to close at N0.49 per share, Caverton down by 4.83 per cent to close at N1.38 per unit, Prestige insurance 4.44 per cent to close at  N0.43 per share.

Volume of trades declined by 146.96 million , representing 30.98 per cent as investors traded 327.426 million shares valued at N3.368 billion in 6534 deals against 474.386 million shares cost N7.751 billion in 7630 deals.

Transactions in the shares of Japaul Gold led market activities with 44.698 million shares valued at N82.765 million, Fidelity Bank followed with 36.360 million shares worth N326.827 million, United Bank for Africa traded 26.703 million shares cost N555.021 million, Oando Plc exchanged 21.250 million shares valued at N230.362 million while Jaiz Bank exchanged 18.769 million shares cost N302.632 million.