Equities Market Gains N52bn In Bullish Return
The Nigerians equities market on Tuesday was overwhelmed by a bullish run which halted the market declining trend.
Gains recorded by MTN by 4.35 per cent propelled the market trend reversal as the All-Share Index closed higher by 0.36 per cent to 27,871.90 points.
Equities market capitalisation on Tuesday appreciated by N51.9 billion to close the day at N14, 616,364 trillion, from N14, 464,435 trillion which opened the day’s trading session. Consequently, the Month-to-date loss moderated to 3.37 per cent while the Year-to-Date gain increased to 3.84 per cent.
MTNN led the gainers Tuesday with N5 or 4.35 per cent, ending the day at N120 per share, followed by UACN which rose by N0.8 or 9.41 per cent, to close Tuesday at N9.3 per share, while WAPCO, as the third best gainer, appreciated by N0.45 or 2.99 per cent, to close at N15.5 per share.
CADBURY, the fourth best gainer appreciated by N0.4 or 4.44 per cent, closing at N9.4 per share, while ZENITHBANK closed the top five gainers chart at N19.85 per share, having grown by N0.15 or 0.76 per cent.
The total volume of trades recorded on Tuesday when compared to that of Monday, reflected increase by 38.03 per cent to 276.27 million units, valued at N3.71 billion and exchanged in 3,690 deals. UBA was the most traded stock by volume at 49.47 million units while GUARANTY was the most traded stock by value at NGN1.20 billion, respectively.
On sector performance, all indices recorded losses, save for the Oil & Gas which advanced 0.05 per cent. The Consumer Goods index declined by 1.29 per cent and led the losers log, followed by the Industrial Goods index that dipped by -0.76 per cent, NSE Insurance index depreciated by 0.55 per cent, and Banking index by (-0.35%) indices.
Market sentiment, as measured by market breadth, was negative (0.8x), as 15 tickers declined, relative to 12 gainers. CAVERTON (-9.86%) and MRS (-9.80%) recorded the largest declines, while UACN (+9.41%) and JAPAULOIL (+8.33%) topped the gainer’s list.
UBA emerged the most traded stock on Tuesday with 49,472,856 million shares worth N381,665,669.60 million, followed by GUARANTY which recorded 41,430,482 million shares , valued N1,204,976,625.95 billion, while ZENITHBANK as the third most transacted stock recorded 30,240,597 million shares , valued N604,758,848.95 million.
JAPAULOIL, as the fourth most active stock polled 29,618,984 million shares, worth N7, 687,004.24 million, while ETI closed the top five activity chart with 27,741,978million shares, worth N192, 810,528.95 million.
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