BUSINESS
Equity market closes on positive note, gains N166bn
The equity market on Nigerian Exchange Ltd. (NGX) on Tuesday closed on a positive note, making All-Share Index (ASI) and Market Capitalisation closed with a gain of N166 billion.
The Market Capitalisation closed at N38.989 billion as against N38.823 billion posted during the previous trading, representing 0.43 per cent increase.
Also, the NGX All-Share Index increased by 303.34 points or 0.43 per cent to close at 71,250.17 basis points, as against 70,946.83 recorded on Monday.
The NGX ASI year-to-date return was at 39.02 per cent while market activities measured by volume traded increased by 20.93 per cent.
The total volume traded advanced by 20.93 per cent to close at N433.57 million valued at N11.11 billion and traded in 7,016 deals.
UACN was the most traded stock by volume with N61.71 million, while NIDF was the most traded stock by value with N2.22 billion units traded.
The market recorded 40 gainers, 15 losers, and 64 unchanged.
NSLTech the gainers’ chart in percentage terms by 10 per cent to close at 77k per share.
Multiverse followed with a gain 9.95 per cent to close at N7.07, while Sunu Assurance rose by 9.92 per cent to close at N1.33 per share.
First Bank of Nigeria Holdings(FBNH) went up by 9.86 per cent to close at N26.75, while Thomaswy appreciated by 9.82 per cent to close at N3.02 per share.
On the other hand, Abbey buildings led the losers’ chart in percentage terms by 9.88 per cent to close at N1.55 per share.
FTN Cocoa Processors of Nigeria followed with 9.09 per cent to close at N1.50 per share.
Daar Communication shed 8.82 per cent to close at 31k, while Wapic Insurance s lost 7.14 per cent each to close at 65k.
Also, Veritable Kapital declined by 5.41 per cent to close at 35k per share.
“We expect the bullish sentiment to persist into tomorrow’s trading session in the absence of any negative catalyst,” noted analysts at Parthian Securities Ltd.
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