Equity market edges higher as investors wealth appreciates by N836bn

The domestic equity market Tuesday closed positive as bulls continued to dominate the market, extending the gains of N836 billion.

Market capitalisation of listed equities appreciated by 1.45 per cent to N58.533 trillion from N57.697 trillion reported the previous day, Monday.

The NGX All Share Index also increased by 1479.60 basis points to 103524.44 points from 102044.84 points in the previous day.

As a result year to date return went up to 38.45 per cent as NGX printed 35 gainers against 14 losers.

A review of the trading activities showed that United Bank for Africa led gainers table, gaining 10 per cent to close at N25.30 per share, MTN Nigeria followed with a gain of 9.98 per cent to close at N243.50 per unit, Julius Berger added 9.71 per cent to close at N61.00 per share, AccessCorp gained 9.51 per cent to close at N22.45 per share while VeritasKapital added 9.38 per cent to close at N0.70 per unit.

On the contrary, Tantalizer topped losers chart during the day, shedding 7.89 per cent to close at N0.35 per unit, Nascon trailed with a loss of 6.77 per cent to close at N53.70 per share, Morison industry down by 6.62 per cent to close at N1.41 per unit, C&I Leasing dipped by  6.45 per cent to close at N3.48 per share, Cutix fell by 6.30 per cent to close at N2.53 per unit.