Equities market sustains positive sentiment as investors gain N44.4bn

The Nigerian equities market sustains bullish run as the All Share Index (ASI) of the Nigerian Stock Exchange (NSE) recorded 0.34 per cent gain at the close of activities, on Tuesday to settle at 25,335.15 basis points moderating Year-to-Date (YtD) return at – 5.6 per cent, while the Month-to-Date return turned positive by 0.3 per cent.

Consequently, equities investors gain N44.44 billion as the market’s capitalization closed at N13.216 trillion as against the opening of N13.171 trillion.

However, market breadth was negative with 13 gainers versus 22 losers, as gains from BUA Cement and Dangote Sugar outweighed losses.

BOC Gasses, Mutual Benefit and Royal Exchange topped the gainers’ chart having advanced by ten per cent to close at N4.51 Kobo, 22 Kobo and 22 Kobo per share respectively.

Also, Neimeth gained 9.79 per cent to its share value to close at N2.13 kobo per unit; Prestige Insurance gained six kobo to close at 70 kobo per share, Linkage Assurance closed at 50 kobo per share after gaining 4.17 per cent, while BUA Cement shares advanced by 4.10 per cent at a closing price of N43.20 kobo per share.

On the other hand, Mobil led the losers’ chart trailed by Fidson, Japaul Oil, Redstar Express and Jaiz Bank as their share value depreciated by 9.96, 7.69, 7.41, 6.56 and 5.63 percentile respectively.

The total volume of trades increased by 16.6 per cent to 268.74 million units, valued at N1.12 billion and exchanged in 4,137 deals. Mutual Benefit was the most traded stock by volume at 99.45 million units while Guaranty Trust Bank was the most traded stock by value at N170.44 million.

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