Equities market halts negative sentiments, gains N133.3bn

Equities trading on the floor of the Nigerian Stock Exchange (NSE) reversed bearish trend as the gains from largely Banking stocks appreciated the market capitalisation by 1.24 per cent or N133.314 billion to close at N10.905 trillion at the end of the trading session on Tuesday.

Similarly, the All-Share Index (ASI) appreciated by 1.24 per cent after adding 255.81 points to close at 20,925.19 basis points. Hence, the year to date loss of the NSE ASI moderated to 22.04 per cent.

Also, market breadth closed positive as 24 gainers were recorded against 10 losers even as Cadbury stock led losers chart by ten per cent depreciation to close at 70 Kobo per shares, followed by Ardova whose shares declines by 9.78 per cent to close at N1.35 Kobo per share.

Mansard Insurance also shed 9.71 per cent or 17 Kobo to close at N1.58 Kobo per shares, while UAC Properties lost 9.47 per cent or N0.09 Kobo to close at 86 Kobo per share just as Wapic Insurance shares depreciated by 7.14 per cent or N0.02 Kobo to closes at 26 Kobo per share.

On the gainers’ chart, FBN Holdings shares led the stack as it advanced by ten per cent to close at ten naira per share while Sterling Bank’s appreciated by 9.91 per cent to close at N1.22 kobo, while Fidelity Bank went up by 9.84 per cent to close at N2.01 per share.

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Wapco shares also increased its value by 9.69 per cent to close at N10.75 Kobo per share, while Custodian Insurance gained 50 Kobo to each of its shares to close at N5.75Kobo per share.

However, the shares of MTN Nigeria significantly impacted on the gains of the day as it advanced by 3.04 per cent having gained N2.80 to each of its shares.

Of the five sub-indices tracked, only two closed in the green territory: the NSE Banking and NSE industrial rose by 3.22 per cent and 3.44 per cent respectively.

Meanwhile, market activity was upbeat as 1.1 billion units of OMOMOBRNK(BLS) was exchanged on Tuesday, thus increasing the volume of stocks traded by 328.79 per cent to 1.44 billion units valued at NGN5.57 billion and exchanged in 4,647 deals.

Guaranty Trust Bank was the most traded stock by value as it exchanged 161.05 million units at NGN2.90 billion.

NIGERIAN TRIBUNE