Bulls persist at NGX as equities investors earn N836.58bn

At the Nigerian Exchange Limited (NGX) on Tuesday, Equities market sustains rally as investors earn N226.8bn sustained the winning streak, as the benchmark index up 1.45 percent to settle at 103,524.44 basis points.

Basically, interest in telco heavyweight, MTN Nigeria Communication alongside sustained interest in Transcorp Power and Guaranty Trust Holding Company kept the market in the positive terrain.

Consequently, the Month-to-Date and Year-to-Date returns rose to +3.5 percent and +38.5 percent, respectively.

With the persistent bullish run, equities investors further earned N836.58 billion on Tuesday as the market capitalization closed at N58.53 trillion.
As measured by market breadth, market sentiment was positive, as 33 tickers gained relative to 14 losers.

On the performance board, United Bank for Africa and MTN Nigeria Communication recorded the most significant gains of the day after their share prices appreciated by 10.0 percent, respectively, while Tantalizer and Nascon Allied topped the losers’ list having dipped in share values by 7.9 percent and 6.7 percent, respectively.

From a sectoral perspective, the Banking, Insurance, and Oil & Gas indices recorded gains of 5.4 percent, 1.2 percent, and 0.1 percent, respectively, while the Consumer Goods index settled lower. The Industrial Goods index was unchanged.

Analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 16.76 per cent.

A total of 565.79 million shares valued at N14.23 billion were exchanged in 11,519 deals.

Transnational Corporation led the volume chart with 170.72 million units traded, while Transcorp Power led the value chart with deals worth N3.51 billion.