Equity market sustains growth profile, gains N421bn


Trading activities on the floor of Nigerian Exchange (NGX) on Tuesday sustained an upward trend, appreciating by N421 billion as transactions in small and medium stocks boosted market activities.


Market capitalisation of listed equities increased by 1.3 per cent to N32.729 trillion from N32.308 trillion reported the previous day.


The NGX All Share Index crosses 60 thousand marks at the end of trading, appreciating by 770.10 basis points to 60108.86 points from 59338.76 points traded on Monday.


An analysis of the investment showed that Courtvellle Business Solutions, Omatek, Afromedia and Ikeja Hotel  led gainers table during the day, gaining 10 per cent each to close at N0.66 per share, N0.33, N0.22 and N3.63 per share respectively. Transco Hotel followed with a gain of 9.97 per cent to close at N21.29 per share.


On the contrary, Redstarex topped losers chart, declining by 10 per cent to close at N3.15 per share, C &I Leasing trailed with a loss of 9.79 per cent to close at N3.50 per unit, Morison Industry declined by 9.22 per cent to close at N1.97 per unit, Sovereign Trust Insurance fell by 7.41 per cent to close at N0.50 per share, May and Baker down by 6.42 per cent to close at N5.10 per unit.


Volume of trades increased by 411.008 million, representing 74.36 per cent as investors traded 963.696 million shares valued at N12.533 billion in 9463 deals against 552.688 million shares worth N13.056 billion exchanged hands the previous day in 8052 deals.


Transactions in the shares of AccessCorp led market activity during the day, exchanging 111.668 million shares valued at N1.741 billion, GTCO Plc followed with account of 78.985 million shares worth N2.692 billion, United Bank of Africa traded 72.291 million shares cost N878.218 million, Sterling Bank exchanged 65.612 million shares cost N195.574 million, Zenith Bank sold 52.436 million shares worth N1.769 billion.