Equity market gains N35bn


Domestic equity market on Tuesday sustained a growth profile, appreciating by N35 billion.

The market was lifted by gains recorded by small, medium and large stocks such as MTN Nigeria, Oando Plc, Zenith Bank, Northern Nigeria Flour Mills, AccessCorp and among others.

Specifically, market capitalisation of listed equities increased by 0.09 per cent to N39.656 trillion from N 39.621 trillion reported the previous day.

The NGX All Share Index also appreciated by 65.19 basis points to 72470.10 points from 72404.91 points reported on Monday.

An analysis of the Investment showed that Caverton Business Solutions and Infinity Savings led gainers table with 10 per cent each to close at N1.76 and N3.41 per share. Northern Nigeria Flour Mills followed with a gain of 9.42 per cent to close at N42.40 per unit, RTBriscoe added 9.09 per cent to close at N0.60 per unit, TIP gained 8.26 per cent to close at N1.18 per share.

On the contrary, Omatek recorded the highest loss,dropping by 10 per cent to close at N0.63 per share, Prestige Insurance trailed with a loss of 9.62 percent to close at N0.47 per unit, ETranzact dipped by 9.60 per cent to close at N5.65 per unit, Stanbic IBTC fell by 9.08 per cent to close at N59.10 per share while UDPC declined by 9.02 per cent to close at N1.21 per unit.

Volume of activities during the day grew by 86.964 million , representing 26.82 per cent as investors traded 411.213 million shares valued at N6.948 billion in 6870 deals against 324.249 million shares worth N4.397 billion in 6745 deals.

Trading in the shares of UPDC REIT led market activities with 42.029 million shares valued at N187.031 million, United Bank for Africa followed with account of 34.658 million shares worth N848.471 million, Veritas Kapital traded 27.706 million shares worth N9.864 million, AccessCorp exchanged 27.567 million shares cost N611.804 million while FCMB traded 25.593 million shares valued at N183.177 million.