Equities market reverses previous day loss as investors gain N132.8bn

The Nigerian bourse reverses previous day loss as the All Share Index (ASI) rose by 0.83 per cent to close at 30,733.47 points amid renewed bargain hunting activity on Tuesday.

Consequently, the equities market capitalisation crossed to N16 trillion mark to settle at N16.06 trillion as investors gain N132.8 billion.

Accordingly, Month-to-Date return turned positive by 0.7 per cent, while the Year-to-Date gain increased to 14.5 per cent.

Notably, investors’ interest in stocks such as Dangote Cement, CAP PLC, Access Bank and Oando PLC lifted their respective prices by 5.63 per cent, 9.58 per cent, 1.26 per cent and seven per cent.

Equities market sentiment, as measured by market breadth, was positive as 24 tickers gained, relative to 18 losers.

On the performance chart, Wapic Insurance and ABC Transport topped the gainer’s list having appreciated in value by ten per cent and 9.7 per cent, while NPF Microfinance Bank and Custodian Insurance recorded the largest losses of the day after depreciating by 8.8 per cent and 7.4 per cent respectively.

Performance across sub-sector was also bullish as three out of the five indices closed in green; the NSE Insurance, NSE Oil/Gas and NSE Industrial indices rose by 0.33 per cent, 0.62 per cent and 2.85 per cent.

On the flip side, the NSE Banking and NSE Consumer Goods indices fell by 0.47 per cent and 0.13 per cent respectively.
The activity was however impressive as the total volume of trades decreased by 10.8 per cent to 336.09 million units, valued at N3.89 billion and exchanged in 5,575 deals.

Zenith Bank stock enjoyed investors’ attention as it was the most traded stock by volume and value at 41.10 million units and N895.65 million, respectively.

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