Equities market gains N32.7bn on positive trade

The domestic equities market index sustained its uptrend at the close of trade, on Tuesday, as it further rose by 0.25 per cent.

Hence, the Year to Date loss of the Nigerian Stock Exchange All Share Index (ASI) lowered to 5.7 per cent, while Month-to-Date gain increased to 2.4 per cent.

Thus, the ASI advanced by 0.25 per cent to 25,291.73 points, while the market capitalisation settled at N13.20 trillion having gained N32.7 billion.

Equities market sentiment, as measured by the market breadth, was negative as 15 stocks gained relative to 20 losers. Beta Glass and May and Baker recorded the largest losses of the day, while NEM Insurance and Wapic Insurance topped the gainers’ list.

Specifically, stocks in the industrial sector appeared to be the toast of investors today as share prices of BUA Cement,
Julius Berger and WAPCO appreciated by 2.83 per cent, 3.03 per cent and 1.74 per cent respectively.

Hence, the NSE Industrial and NSE Insurance indices advanced by 1.10 per cent and 1.62 per cent respectively.

On the flip side, the NSE Banking and NSE Consumer Goods indices moderated by 0.22 per cent and 0.07 per cent respectively while the NSE Oil/Gas index closed flat.

The total trade volume increased marginally by 0.1 per cent to 251.34 million units, valued at N1.17 billion and exchanged in 3,713 deals. Transnational Corporation was the most traded stock by volume at 94.88 million units while the United Bank for Africa (UBA) was the most traded stock by value at N216.45 million.

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