Equity market opens bullish, gains N136bn

Trading activities on the floor of Nigerian Exchange on Tuesday after celebration of Salah holiday opened in positive note, gaining N136 billion as sell off in Transnational Corporation of Nigeria, Fidelity Bank, Zenith and other lifted activities in the market.

Market capitalisation of listed equities increased by 0.49 per cent to N28.099 trillion from N27.963 trillion reported the previous day.

The NGX All Share Index also appreciated by 250.75 basis points to 51606.49 points from 51355.74 points traded the previous day.

A review of the investment showed that Japaul Gold led gainers table during the day in percentage terms, gaining 10 per cent to close at N0.33 per share, HoneyWell Flour Mills Nigeria Plc followed with a gain of 9.91 per cent to close at N2.55 per unit, Berger Paint added 9.87 per cent to close at N8.35 per share, Transnational Corporation of Nigeria gained 9.80 per cent to close at N2.69 per share, Ikeja Hotel increased by 9.35 per cent to close at N1.52 per share.

On the contrary, Wapic Insurance recorded highest loss with a drop of 7.32 per cent to close at N0.38 per share, NGX group trailed with a drop of 4.89 per cent to close at N25.30 per unit, RTBriscoe Plc fell by 4.00 per cent to N0.24 per unit, AIICO Insurance down by 3.64 per cent to close at N0.53 per unit while Royal Exchange declined by 3.17 percent to N0.61 per share.

Volume of trades increased by 1.489 billion representing an increase of 247.88 per cent as investors traded 2.090 billion shares valued at N8.849 billion in 6404 deals against 600.778 million shares valued at N5.054 billion exchanged the previous day in 4309 deals.

Transactions on the shares of Transnational Corporation of Nigeria led activity chart during the day with 1.659 billion shares valued at N4.092 billion, AccessCorp followed with account of 217.418 million shares valued at N2.313 billion, Fidelity Bank traded 30.705 million shares cost N175.788 million, Zenith Bank exchanged 27.553 million shares valued at N608.808 million, United Bank for Africa traded 18.212 million shares cost N143.600 per share.