Equities investors earn N85.5bn as bulls persist at NGX

Bullish sentiments persisted in the Nigerian equities market, as the bourse maintained its positive trend, with its All-share index rising by 0.19 per cent to close at 70,613.60 basis points.

Specifically, gains in Guaranty Trust Holding Company, First Bank of Nigeria Holdings and Lafarge Africa were the main drivers of the market’s overall performance, having appreciated in share prices by 0.85 percent, 6.35 percent and 0.52 per cent, respectively.

Accordingly, the Month-to-Date and Year-to-Date returns advanced to +2.0 percent and +37.8 percent, respectively.

As a result of the positive trading outing, equities investors earned N85.45 billion as the market capitalisation settled at N38.80 trillion on Tuesday.

As measured by market breadth, market sentiment was negative, as 24 tickers lost relative to 22 gainers. On the performance board, Northern Nigeria Flour Mills and Royal Exchange topped the losers’ list having lost 10.0 percent and 9.3 per cent from their respective share prices, while PZ and GlaxoSmithKline recorded the highest gains of the day after their share prices appreciated by 10.0 per cent and 9.9 per cent, respectively.

Furthermore, performance by sub-sector index pointed to bullish sentiment as the NGX Banking Index, NGX Insurance Index, NGX Consumer Goods Index and NGX Industrial Goods Index gained by 0.01 per cent, 0.15 percent, 0.31 per cent and 0.03 per cent respectively while bearish sentiment claimed the NGX Oil/Gas Index as it fell by 0.27 per cent.

Also, market activity showed further improvement as the total deals and trading volume for the day soared by 3.85 per cent and 14.90 per cent to 7,100 trades and 449.28 million units.

However, the total value for the day declined by 29.34 per cent to N5.44 billion. FBN Holdings was the most traded security in terms of volume and value with 52.02 million units worth N1.03 billion traded during the Tuesday session, changing hands in 373 deals.

 

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