Equities investors earn N138bn amid renewed buying interest

Equities investors earn N138bn amid renewed buying interest

At the Nigerian Exchange Limited (NGX), on Tuesday, the benchmark index recouped previous day loss as a result of renewed bargain hunting activities.

Specifically, the overall sentiments was buoyed by bargain buying in BUA Cement and BUA Foods stocks as the respective shares appreciated by 2.0 per cent and 4.2 per cent.

Thus, the All-Share Index advanced by 0.6 per cent to 44,655.89 basis points. Accordingly, the Year-to-Date return increased to +4.5 per cent.

Investors therefore earned N138 billion as the market capitalisation settled at N24.060 trillion as against an opening of N23.922 trillion.

As measured by market breadth, market sentiment was also positive as 25 tickers gained relative to 11 losers.

On the performance board, SKY Aviation gained 10.00 per cent to become the best performing stock in the session.

Courtville, FTN Cocoa, Dangote Sugar and Berger Paints completed the list of the top five gainers having appreciated in value by 8.57 per cent, 8.33 per cent, 7.35 per cent and 5.84 per cent. .

From the rear of the chart, NEM Insurance shed the most weight to lead the laggards’ chart as it is flanked by SUNU Assurance, Regal Insurance, Sovereign Insurance and Wapic Insurance.

Also performance across sub-indices was largely positive, except for the NGX Insurance Index which fell by 1.61 per cent. The NGX Banking Index, NGX Consumer Goods Index, NGX Oil/Gas Index and the NGX Industrial Index rose by 0.98 per cent, 0.69 per cent, 0.25 per cent and 0.79 per cent respectively.

Market activity as measured by both volume and value of trades closed in opposite direction at the end of the trading session as daily traded volume stood at 235 million units, representing a 9.7 per cent increase from a volume of 214 million units traded in the previous session.

Value of traded stocks however dipped by 28.65 per cent in the session to stand at N1.918 billion as against a value of N2.689 billion recorded in the previous trading session.Transnational Corporation dominated the volume charts as the top traded stock by volume for the trading session. This is followed by Guaranty Trust Holding Company (GTCO), Jaiz Bank, EcoBank Transnational Incorporated (ETI) and FBN Holdings to complete the list of the five most traded stocks by volume.With regards to the value of traded stocks, GTCO took the lead of the top five performers, flanked by FBN Holdings, Nigerian Breweries, ETI, and lastly Dangote Cement.. YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN […]

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