Equity market gains N19bn

Trading activities on the floor of Nigerian Exchange (NGX) on Tuesday closed in positive note, gaining N19 billion.

Market capitalisation of listed equities appreciated by 0.03 per cent to N65.794 trillion from N65.685 trillion reported on Monday.

The NGX All Share Index also appreciated by 30.40 basis points to 104560.02 points from 104529.62 point made the previous day.

As a result, the year-to-date return went to 1.59 per cent as 24 companies closed in positive direction while 29 closed in red.

An analysis of the investment showed that Abbey Building Society led gainers table with 9.94 per cent to close at N7.41 per share, Unilever Nigeria Plc followed with a gain of 9.65 per cent to close at N48.06 per unit, LearnAfrica gained 8.33 per cent to close at N3.25 per unit, NSLTech added 9.41 per cent to close at N0.58 per unit, Conhall increased 7.27 per cent to close at N2.95 per unit.

On the contrary, Northern Nigeria Flour Mills topped losers, declining 9.97 per cent to close at N79.00, TIP trailed 9.57 per cent to close at N4.25 per unit, Caverton Business Solutions dipped by 9.06 per cent to N2.31 per unit, Wapic Insurance dipped by 8.85 per cent to close at N2.06 per share, Guinea Insurance sheds 8.70 per cent to close at N0.63 per unit.

Volume of trades declined by 10.518 million, representing 13.87 per cent as investors traded 368.769 million shares valued at N10.871 billion in 13228 deals against 428.163 million shares cost N10.518 billion in 14583 deals.

Transactions in the shares of Fidelity Bank with 47.431 million shares valued N866.952 million, Access Holdings company followed with 28.048 million shares worth N592.210 million, Zenith Bank traded 23.120 million shares cost N1.146 billion, United Bank for Africa exchanged 21.974 million shares cost N690.491 million while 20.805 million shares valued at N1.851 billion.