Equities market halts bearish trend as investors earn N6bn

Equities trading at the Nigerian Exchange Limited (NGX) was impressive on Tuesday as market snapped out of three consecutive sessions of losses, howbeit slightly, as the domestic bourse posted a 0.04 percent rebound to close at 51,138.92 basis points.

Basically gains in Guaranty Trust Holding Company, Nigerian Breweries and First Bank Holding drove the market’s recovery as the large cap stocks appreciated by 0.60 per cent, 1.10 per cent and 1.46 per cent, respectively, owing to buying interest in these dividend-paying companies .

Consequently, the year-to-date loss of the exchange mellowed to 0.22 per cent.

Equities investors, therefore, earned N6.04 billion as the market capitalisation gained settled at N27.85 trillion by the close of trading activities at the local bourse on Tuesday.  

Sectoral performance was negative as three of the five indices tracked closed southward; the NGX Banking, NGX Insurance, and NGX Industrial indices fell by 0.50 per cent, 1.43 per cent, and 0.01 per cent, respectively. 

In contrast, the NGX Consumer Goods and NGX Oil/Gas indexes dwindled by 0.04 per cent and 0.12 per cent, respectively. 

Meanwhile, trading activity ballooned as Transcorp accounted for 62 per cent of cumulative value. 

Specifically, total deals, volume, and value jumped by 6.77 per cent, 703.18 per cent, and 220.17 per cent, respectively, to 4,669 trades, 1.82 billion units, and N5.02 billion.

In terms of volume, Transnational Corporation also emerged as the most actively traded stock, with 1.60 billion shares worth N3.09 billion changing hands in 839 deals. 

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