Local equities rebound, gains N8bn

Agency Report

Trading on the floor of Nigerian Exchange (NGX) on Tuesday closed northward, appreciating by N8 billion as gain in the shares of Flour Mills Nigeria Plc, GTCO Plc, Nascon, Stanbic, Zenith Bank and others lifted market activities.

Market capitalization of listed equities appreciated by 0.01 per cent to N59.177 trillion from N59.169 trillion reported the previous day.

The NGX All Share Index also increased 13.61 basis points to 97639.88 points from 97626.27 points recorded on Monday.

As a result, year to date return increased marginally to 30.58 per cent as 24 companies took positive direction against 25 firms that closed in red.

An analysis of the investment showed that HMCall led gainers table during the day, appreciating by 9.98 per cent to close at N6.17 per unit, SUNU Assurance followed with a gain of 9.80 per cent to close at N3.81 per unit, Japaul Gold gained 9.72 per cent to close at N2.37 per unit, Prestige insurance added 9.64 per cent to close at N0.91 per unit, Neimeth international Pharmaceutical added 9.55 per cent to close at N2.18 per share.

On the contrary, Multiverse topped losers chart dropping by 9.92 per cent to close at N5.90 per share, Tantalizer trailed with a loss of 9.30 per cent to close at N1.17 per unit, UPDCREIT dipped by 9.01 per cent to close at N5.05 per share, Universal insurance declined by 5.88 per cent to close at N0.32 per unit, RTBriscoe fell by 5.67 per cent to close at N2.66 per share.

Volume of trades declined by 119.15 basis points, representing 17.75 per cent as investors traded 552.110 million shares valued at N8.031 billion in 9305 deals against 671.260 million shares worth N10.639 billion exchanged hands the previous day in 10464 deals.

Transactions in the shares of HMCall led market activities with 177.112 million shares valued at N1.092 billion, Tantalizer followed with account of 36.987 million shares worth N46.652 million, United Bank for Africa traded 29.599 million shares valued at N947.307 million, Prestige insurance traded 28.585 million shares worth N25.580 million while FBNHoldings exchanged 21.500 million shares cost N536.214 million.