Equities market maintains bull as investors earn N137.3bn

For the third consecutive session, equities trading at the Nigerian Exchange Limited (NGX) the Lagos maintained the bull run bringing the benchmark index up by 0.48 percent to close at 52,621.19 basis points.

Sustained buying interest in Zenith Bank, Guaranty Trust Holding Company, and Stanbic Ibtc Holdings on Tuesday complement the day’s trading as the share prices of these companies appreciated 2.08 percent, 2.03 percent, and 5.33 percent.

As a result, the Month-to-Date and Year-to-Date returns increased to +0.4 percent and +2.7 percent, respectively.

Equities investors, therefore, earned N137.25 trillion as the market capitalisation increased by N137.25, settling at N28.65 trillion.

As measured by market breadth, market sentiment was positive, as 33 tickers gained relative to 15 losers.

Transnational Corporation and TrippleG recorded the highest gains of the day, having appreciated in share value by 9.9 percent and 9.8 percent, respectively, while Chellaram and Sunu Assurance topped the losers’ list after their respective share prices dipped by 9.9 percent and 9.4 percent.

Sectorial performance was positive, as four of the five indices tracked closed in the green zone: the NGX Banking, NGX Consumer Goods, NGX Oil/Gas, and NGX Industrial indices climbed by 1.55 percent, 0.35 percent, 0.04 percent, and 0.02 percent, respectively.

However, the NGX Insurance index fell marginally by 0.01 percent.

Analysis of market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 28.17 percent. A total of 350.97 million shares valued at N5.17 billion were exchanged in 5,946 deals.

United Bank for Africa led the volume charts with 62.45 million units traded, and Zenith Bank led the value charts in deals worth N1.58 billion.