Bulls Trend As Local Equities Rebound To Gain N187bn

Nigeria’s domestic equity market on Tuesday returned bullish, gaining N187 billion as profits recorded in the shares of Geregu Power, Flour Mills Nigeria Plc, Dangote Sugar, United Bank for Africa and others lifted market activities. Market capitalisation of listed equities increased by 0.51 per cent to N36.929 trillion from N36.742 trillion it closed the previous day. The NGX All Share Index also appreciated by 340.85 basis points to 67217.77 points from 66876.92 points traded on Monday. An analysis of the investment showed that Flour Mills Nigeria Plc led gainers table by 9.93 per cent to N31.00 per unit, UPL followed with a gain of 9.81 per cent to N2.35 per share, Chams Plc added 9.37 per cent to close at N1.75 per share, Geregu Power added 9.05 per cent to close at N343.50 per unit, Thomas Way gained 9.02 per cent to close at N4.34 per unit. Conversely, VFD group and ABC Transport recorded the highest loss at the close of transaction at the NSE, dropping 9.98 per cent each to close at N218.20 and N0.73 respectively. FTNCocoa trailed with a loss of 3.70 per cent to close at N1.56 per share,  NGX group dipped by 3.67 per cent to close at N21.00 per unit, Vitafoam Nigeria Plc down by 3.44 per cent to close at N22.45 per share. Volume of transactions increased as investors traded 319.904 million shares valued at N6.330 billion in 6272 deals against 314.619 million shares worth N4.388 million exchanged hands the previous day in 6133 deals. AccessCorp Plc-led market activities with 50.780 million shares valued at N837.972 million, GTCO Plc followed with account of 42.043 million valued at N1.496 billion, Fidelity Bank traded 32.117 million shares cost N264.006 million, United Bank for Africa traded 25.725 million shares worth N496.685 million while Sterling Bank exchanged 19.371 million shares cost N69.984 million.

Nigeria’s Equity Market Rebounds, Gains N358bn

Nigeria’s domestic equity market on Wednesday took a positive turn, gaining N358 billion as profits recorded in the shares of Dangote Sugar, Transnational Corporation of Nigeria, United Bank for Africa, AccessCorp, Oando Plc and others impacted positively on the market. The market capitalisation of listed equities gained 0.98 per cent to N36.896 trillion from N36.538 trillion reported the previous day. The NGX All Share Index also appreciated by 654.20 basis points to 67414.40 points from 66760.20 points traded on Tuesday.A review of the investment during the day showed that four companies closed trading for the day with 10 percent gain. Dangote Sugar Refinery, Nahco, United Capital, and Nascon  led gainers table, growing by 10 per cent each to close at N57.20 per unit, N23.65, N16.50 and N51.70 per share respectively, Transnational Corporation of Nigeria followed with a gain of 9.98 per cent to close at N6.61 per unit. On the contrary, Courtvellle Business Solutions topped losers’ chart with a drop of 10 per cent to close at N0.54 per unit, ABC Transport trailed with a loss of 9.80 per cent to close at N0.92 per unit, Tantalizer fell by 9.30 per cent to close at N0.39 per share, Learn Africa depreciated by 8.51 per cent to close at N3.01 per unit while Regal insurance dipped by 8.33 per cent to close at N0.33 per unit. The volume of activities declined by 75.914 million representing a drop of 11.76 per cent as investors exchanged 569.626 million shares valued at N8.697 billion in 8404 deals against 645.540 million shares cost N11.014 billion exchanged hands the previous day in 10554 deals. Transactions in the shares of Oando led market activities with 143.445 million shares valued at N1.395 billion, AccessCorp followed with account of 63.556 million shares worth N1.070 billion, Fidelity Bank traded 39.553 million shares cost N313.782 million, Transcorps exchanged 32.610 million shares worth N209.175 million while 30.676 million shares valued at N464.755 million.