Investors gain N83.2bn as equities market rebounds

The local equities market eases a negative trend to close bullish, on Tuesday, as investors earn N83.17 billion after the market capitalisation settles at N20.26 trillion.

The All Share Index (ASI) increased by 0.41 per cent by the end of trading activities at the Nigerian Stock Exchange (NSE), to close at 38,720.81 basis points.

Consequently, the Year-to-Date return of the NSE ASI stands at -3.84 per cent.

The rebound in the local bourse on Tuesday was due to positive sentiments in blue-chip stocks such as Dangote Cement, MTN Nigeria and Guinness which soared by 3.55 per cent, 1.20 per cent and 10.0 per cent respectively.

Despite the overall positive outings, market breadth was negative as losers outweighed gainers by 22 against 11.

On the performance chart, Guinness Nigeria and Regal Insurance topped the list of gainers of the day having appreciated by ten per cent respectively to close at N25.3 Kobo and 33 Kobo per respective share.

Conversely, Wapic Insurance and African Prudential led the loser’s list having depreciated by 9.09 per cent and 8.26 per cent respectively.

The sectoral performance was mixed as only two out of five indices tracked closed bullish. The Consumer Goods index and Industrial index rose by 0.23 per cent and 1.70 per cent respectively, while the Banking and Insurance indices 3.51 per cent and 1.07 per cent respectively. However, Oil/Gas index closed flat.

Meanwhile, trading activities was positive as the total deals, volume and value increased by 18.85 per cent, 19.69 per cent and 67.05 per cent to 4,192 deals, 0.20 billion units and N4.2 billion respectively.

Transactions on the shares of United Bank for Africa, Guaranty Trust Bank, Mutual Benefits, Mansard Insurance and Access Bank boosted activities at the local bourse as they made the top five trades in terms of volume.

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Investors gain N83.2bn as equities market rebounds

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