Equities investors adds N193.7bn to investments as NGX ASI adds 0.4%

The Nigerian equities market extended previous day’s positive sentiment following bargain hunting in First Bank of Nigeria Holdings and Transnational Corporation, whose share prices appreciated by 9.9 percent and 10.0 percent, respectively.

Specifically, on Tuesday, the All-Share Index (ASI) of the Nigerian Exchange Limited (NGX) notched a 0.4 percent gain to close at 99,190.46 basis points.

Consequently, the Month-to-Date and Year-to-Date returns settled at -0.8 percent and +32.7 percent, respectively.

As a result of the bullish trading outing, equities investors gained N193.69 billion as the market capitalisation closed at N56.08 trillion by the end of trading activities on Tuesday.

As measured by market breadth, market sentiment was negative, as 37 tickers lost relative to eight gainers.

On the performance board, NASCON Industries and International Breweries topped the losers’ list having declined by 10.0 percent, respectively, while Transnational Corporation and Transcorp Power recorded the most significant gains of the day after their respective share prices appreciated by 10.0 percent.

From a sectoral perspective, the Insurance and Consumer Goods indices declined by 3.2 percent and 0.8 percent respectively, while the Banking index advanced by 1.1 percent.

Meanwhile, the Industrial Goods and Oil & Gas indices closed flat.

Analysis of market activities for the day under review showed trade turnover settled higher relative to the previous session, with the value of transactions up by 59.55 percent.

A total of 398.13 million shares valued at N31.79 billion were exchanged in 10,976 deals.

Transcorp Power led both the volume  and value charts  with 87.49 million units traded in deals worth N25.41 billion.

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