Equities market leaps by 4.92 per cent as investors gain N292bn

The equities market closed positive at the close of trading on Tuesday to record 12 consecutive green days, as investors gain N292 billion.

All Share Index extended gain by 4.92 per cent today at 28,909.37 basis points. pegging Year-to-Date at 7.70 per cent while capping equities market capitalisation at N15.110 trillion.

Similarly, the bull continued to surmount the bear as market breadth recorded 45 counters in the gainers’ chart as against eight decliners.

Cornerstone Insurance, International Breweries, Presco, FBN Holdings and NNFM are the best performing stock today while NPF Microfinance Bank, Wapic Insurance, Academy Press, Berger Paints and Neimeth Pharmaceuticals are the top decliners today.

The sectoral performance was also positive as the Banking index recorded the biggest gain having appreciated by 7.5 per cent, followed by the Industrial Goods, Consumer Goods, Oil & Gas and Insurance indices, as the added 5.6 per cent, 3 per cent, 1.2 per cent and 0.3 per cent respectively.

Market activity inched further up on the back of continued increased sentiment with the volume of trades at 749 million as against 604 million in previous session amounting to 24.10 per cent increase. Value followed suit to record 27.89 per cent increase from N7.42 billion previously to N9.49 billion recorded on Tuesday.

Zenith Bank, United Bank for Africa, FBN Holdings, Access Bank and Guaranty Trust Bank took the top five performers in terms of volume of units traded while Zenith Bank, Guaranty Trust Bank, United Bank for Africa, WAPCO and FBN Holdings as made up the top five performers in terms of value trade.