Equity Market Continues Bullish Run, Gains N266bn

The local equity market Tuesday sustained its bullish run, gaining N266 billion, following gains recorded by BUAfoods, Transcorp Hotel, Berger Paint, Oando, Fidelity Bank among oth Market capitalisation of listed equities increased by 0.71 per cent to N37.413 trillion from N37.147 trillion reported the previous day. The NGX All Share Index also appreciated by 482.05 basis points to 68359.22 points from 67877.17 points traded the previous day. An analysis of the investment showed that Ellah Lakes led gainers table, gaining 10 per cent to close at N3.65 per share, Berger Paint followed with a gain of 9.95 per cent to close at N11.60 per share, ETranzact gained 9.93 per cent to close at N8.08 per share, Chams Plc added 9.92 per cent to close at N1.33 per unit, Oando Plc increased by 9.92 per cent to close at N13.30 per unit. On the contrary, NSL Tech and SCOA Plc topped losers chart, dropping by 10 per cent each to close at N0.27 per share and N1.26 per share respectively, Multiverse trailed with a loss of 9.93 per cent to close at N2.27 per unit, Cornerstones fell by 8.76 per cent to close at N1.25 per unit while Daar Communication fell by 8.70 per cent to close at N0.21 per unit. Volume of activities increased by 161.450 million, representing 31.33 per cent as investors traded 676.736 million shares valued at N5.893 billion in 7659 deals against 515.280 million shares valued at N8.925 billion in 8357 deals. Transactions in the shares of Universal insurance led market activities with account 235.152 million shares valued at N48.167 million, United Bank for Africa followed with 69.101 million shares cost N122.690 million, Transnational Corporation of Nigeria traded 41.572 million shares worth N274.177 million, Fidelity Bank traded 34.639 million shares worth N278.184 million, Chams Plc sold a total of 29.959 million shares cost N39.790 million.

Despite bargain hunting, equity market gains N52bn

The Nigeria’s equity market Tuesday remained bullish, appreciating by N52 billion amid renewed bargain-hunting activities. Market capitalisation of listed equities on Tuesday appreciated by N52 billion or 0.16 per cent to N32.185 trillion from N32.133 trillion reported the previous day. The NGX All Share Index also increased by 95.17 basis points to 59110.02 points from 59014.85 points traded on Monday. Trading in the shares of United Bank for Africa, GTCO Plc, Transcorps, Access Corp lifted market activities during the day. An analysis of the Investment showed that Academy Press Plc, Sky Ways, Chams Plc and Guinnea Insurance led gainers table during the day in percentage terms, appreciating by 10 per cent each to close at N1.98 per share, N7.70, N0.44 per unit and N0.22 per share respectively, Learn Africa followed with a gain of 9.92 per cent to close at N2.66 per share. On the contrary, C &I Leasing topped losers chart, dropping by 10 per cent to N4.05 per share, Cornerstone Insurance trailed with a loss of 9.82 per cent to close at N1.01 per share, NSL Tech  and Veritas Kapital down by 8.70 per cent each  to close at N0.42 and 0.21 per share respectively. RTBriscoe Plc dipped 8.11 per cent to close at N0.34 per share. Volume of trades increased by declined by 304.100 million representing 34.06 per cent as investors exchanged 588.854 million shares valued at N8.960 billion in 8272 deals against 892.954 million shares valued at N11.147 billion in 9274 deals. Transactions in the shares of United Bank for Africa led activity chart during the day with 78.511 million shares valued at N907.474 million, GTCO Plc followed with account of 65.398 million shares worth N2.107 billion, Transnational Corporation of Nigeria traded 33.706 million shares valued at N112.040 million, AccessCorps traded 31.378 million shares cost N466.626 million while Veritas Kapital traded 27.759 million shares cost N6.088 million