Equities market sustains bulls, gains 0.27 per cent

Equities trading on the Nigerian Stock Exchange (NSE) sustain previous day gains as All Share Index (ASI) rose marginally by 0.27 per cent amid sustained bargain hunting activity.

Equities market extended its stance into the second trading session as All Share Index as settle at 25,383.43 basis points pegging Year-to-Date (YtD) return at -5.43 per cent while the market capitalisation settled at N13.24 trillion on Tuesday.

Similarly, the bull dominated the market after the market breadth recorded 21 gainers against 17 losers, an unimpressive return when compared to previous day outlook.

Neimeth Pharmaceuticals, United Prints Limited, Sky Aviation, Japaul Oil and ABC Transport led the gainers’ chart. At the rear of the chart, Prestige Insurance, Omatek, Champion Breweries, Union Bank of Nigeria and UACN lead the losers’ chart.

Analysing by sectors, the Insurance and Industrial goods indices recorded gains by 0.4 per cent and 0.2 per cent respectively, while losses recorded in the Consumer Goods and Banking indices. The Oil and Gas index remained flat

Market Activity improved in terms of volume of trades recording a total of 378 million shares, a 49.18 per cent incline from 253 million shares recorded in the previous session. Value followed suit to close upbeat by 128.87 per cent from the previous session of N2.65 billion to close at N6.05 billion.

Nigerian Breweries, Guaranty Trust Bank, Zenith Bank, AIICO and FBN Holdings ended the trading day as top performers in terms of volume while Nigerian Breweries, Dangote Cement, Guaranty Trust Bank, Zenith Bank and MTN Nigeria made up the top five performers in terms of the value of units traded.

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