NGX: Equities investors earn N28.5bn as market reverses trend

Positive sentiments dominant trading at the Nigerian Exchange Limited (NGX), on Tuesday, as the market reversed the previous day’s loss to leave the benchmark index with a 0.11 per cent increase.

The bullish trade followed bargain-hunting on Dangote Cement shares as it appreciated by 3.3 per cent.
Precisely, the All-Share Index inched higher by 0.1 per cent to 39,550.36 basis points. Thus, Month-to-Date gain increased to +2.6 per cent, while Year-to-Date loss moderated to -1.8 per cent.

Owing to the positive daily results on Tuesday, investors earned N28.5 billion as the market capitalisation appreciated by 0.1 per cent to settle at N20.61 trillion as against an opening mark of N20.58 trillion.

Despite the marginal increase recorded, as measured by market breadth, market sentiment was negative, as 16 tickers lost, relative to 15 gainers.

On the chart, SCOA and Nestlé Nigeria topped the losers’ list as the value of their respective shares dipped by 9.7 per cent and 9.2 per cent, while Honeywell Flourmills and PharmaDeko recorded the most significant gains of the day with 9.8 per cent and 9.2 per cent growth in the value of their respective shares.

Performance across sectors was mixed, as the Consumer Goods, Insurance and Oil and Gas indices recorded declines by 4.6 per cent, 1.2 per cent and 0.2 per cent respectively, while the Banking index closed flat. The Industrial Goods index was the sole gainer as it appreciated by 1.8 per cent.

Also, activities at the local bourse did not reflect the overall performance as the total volume of trades declined by 21.6 per cent to 110.77 million units, valued at N3.08 billion, and exchanged in 3,305 deals.

Transnational Corporations was the most traded stock by volume at 11.94 million units, while Nestle Nigeria was the most traded stock by value at N2.17 billion.

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FULL STORY: On Sunday, August 8, 2021, a viral WhatsApp message claims that mobile telecommunications giant, MTN, is giving out N20,000 cash, 5GB worth of data and cars to celebrate its 20th anniversary in Nigeria.NGX: Equities investors earn N28.5bn as market reverses trend

NGX: Equities investors earn N28.5bn as market reverses trend