Bulls persist at local equities market, adds +1.21 per cent

The local equities market sustains the bulls, on Tuesday, as the All-Share Index of the Nigerian Stock Exchange (NSE) inched up by 1.21 per cent to close at 41,584.94 basis points.

Consequently, the Year-to-Date Return stood at 3.26 per cent to bring the market capitalisation to N21.754trillion.
Market breadth also swayed to close in favour of the bulls with 32 counters in the gainer’s chart as against 19 decliners.
RT Briscoe, Champion Breweries, Universal Insurance, African Insurance and Fidson Pharmaceutical led the gainers’ chart as the best-performing stocks of the day.

On the flip side John Holt, Japaul Gold, Seplat, Academy Press and Niger Insurance led the charts from the rear as the top decliners.

All sectoral indices went in tandem with the All-Share Index to close in the green save for Banking and Oil&Gas sectors that lost 0.14 per cent and 5.31 per cent respectively as ASEM closes flat.

Activity at the local bourse on Tuesday was impressive as the volume of trades increased, recording 468 million as against 333 million in the previous trading session. This amount to a 40.47 per cent increase.

Value of trades followed suit to surge by 110.79 per cent to stand at N5.566 billion from a value of N2.640 billion recorded in the previous trading session.

Transnational Corporations and Mansard Insurance continued to make wave as the most traded stocks with regards to volume, owing to that to increased interest from traders and investors.

Japaul Gold, Sovereign Insurance and Lasaco Assurance flanked them to complete the top five traded stocks with regards to volume.

Whereas Airtel Africa, Zenith Bank, Dangote Cement, Wapco and Guaranty Trust Bank made up the top five performers in terms of the value of trade.

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Bulls persist at local equities market, adds +1.21 per cent