Equity market remain bullish, gains N697bn

The Nigerian equities market on Tuesday sustained growth trend, appreciating by N697 billion as gains in the shares of BuaCement, Zenith Bank and others boosted trading activities.

This resulting in market capitalisation of listed equities increasing by 0.54 per cent to N130.026 trillion from N129.329 trillion recorded on Monday.

The NGX All Share Index also appreciated by 1084.68 basis points to 202,559.57 points from 201474.89 traded the previous day.

The market breath was positive with 39 advancers against 34 decliners, bringing the year to date return to 30.17 per cent.

An analysis of the investment showed that BuaCement led gainers table, appreciating by 10 per cent to close at N3.26 per unit, Premier Paint followed with a gain of 9.86 per cent to close at N23.40 per unit, Zenith Bank added 7.91 per cent to close at N111.15 per unit, Nahco up by 7.14 per cent to close at N175.60 per share, while VFD group added 6.67 per cent to close at N12.00 per share.

On the contrary, Presco recorded the highest loss during the day, shedding 10 per cent to close at N1875.60 per unit, Caverton Business Solutions trailed with a loss of 8.70 per cent to close at N6.30 per share, NSLTech declined by 7.69 per cent to close at N1.20 per share, Guinea Insurance sheds 6.43 per cent to close at N1.31 per unit, International Breweries dipped by 6.35 per cent to close at N14.00 per unit.

Volume of trades rose by 987.457 million as investors traded 1.751 billion shares against 763.541 million shares recorded on Monday. Value of transactions went up by 97.28 per cent to settle at N88.095 billion in 62654 deals.

Transactions in the shares of FCMB group led market activities with 516.227 million shares worth N6.554 billion, Wema Bank followed with account of 213.386 million shares cost N5.565 billion, Zenith Bank traded 163.107 million shares cost N18.100 billion, Access Holdings company exchanged 123.849 million shares worth N3.168 billion while GTCO Plc traded 100.017 million shares cost N12.355 billion.