Business

Investors earn N126.4bn as equities market turns bullish

Sentiments at the Nigerian Exchange Limited (NGX) turned positive on Tuesday as the All-Share Index increased by 0.4 per cent to close at 56,038.85 basis points.

Renewed demand for index heavyweight, Airetel Africa contributed to keeping the equities market in the green as the share prices of these companies appreciated by 1.96 per cent, 0.18 per cent and 5.45 per cent, respectively.

As a result, the Month-to-Date and Year-to-Date returns increased to +0.5 per cent and +9.3 per cent, respectively.

Equities investors, therefore, gained N126.38 billion cumulatively as the market capitalisation settled at N30.51 trillion by the end of trading activities at the local bourse.

As measured by market breadth, market sentiment was positive, as 28 tickers gained relative to 24 losers. On the performance board, eTranzact and Eternal Oil recorded the most significant gains of the day having appreciated in share value by 10.0 per cent and 9.9 per cent, respectively, while John Holt and Multiverse topped the losers’ list after their respective share prices dipped by 9.9 per cent and 9.5 per cent.

Similarly, sectorial performance was bullish as three out of the five sub-sector gauges tracked closed in green; the NGX Insurance, NGX Consumer Goods, and NGX Oil/Gas indices rose by 0.57 per cent, 0.21 percent, and 1.02 per cent, respectively. On the positive side, the NGX Banking and NGX Industrial indices fell by 0.05 per cent and 0.02 per cent, respectively.

Analysis of market activities on Tuesday showed that trade turnover settled lower relative to the previous session, with the value of transactions down by 70.64 per cent.

A total of 322.49 million shares valued at N5.82 billion were exchanged in 6,165 deals. United Bank for Africa led the volume chart with 47.13 million units traded, while Airtel Africa led the value chart in deals worth N1.76 billion.

READ ALSO FROM NIGERIAN TRIBUNE