Local equities close higher, gains N187bn

Domestic equity market Tuesday returned to bullish trend, gaining N187 billion as gains recorded in the shares of Geregu Power, Flour Mills Nigeria Plc, Dangote Sugar, United Bank for Africa and others lifted market activities.

Market capitalisation of listed equities increased by 0.51 per cent to N36.929 trillion from N36.742 trillion it closed the previous day.

The NGX All Share Index also appreciated by 340.85 basis points to 67217.77 points from 66876.92 points traded on Monday.

An analysis of the investment showed that Flour Mills Nigeria Plc led gainers table by 9.93 per cent to N31.00 per unit, UPL followed with a gain of 9.81 per cent to N2.35 per share, Chams Plc added 9.37 per cent to close at N1.75 per share, Geregu Power added 9.05 per cent to close at N343.50 per unit, Thomas Way gained 9.02 per cent to close at N4.34 per unit.

Conversely, VFD group and ABC Transport recorded the highest loss at the close of transaction at the NSE, dropping 9.98 per cent each to close at N218.20 and N0.73 respectively.

FTNCocoa trailed with a loss of 3.70 per cent to close at N1.56 per share, NGX group dipped by 3.67 per cent to close at N21.00 per unit, Vitafoam Nigeria Plc down by 3.44 per cent to close at N22.45 per share.

Volume of transactions increased as investors traded 319.904 million shares valued at N6.330 billion in 6272 deals against 314.619 million shares worth N4.388 million exchanged hands the previous day in 6133 deals.

AccessCorp Plc led market activities with 50.780 million shares valued at N837.972 million, GTCO Plc followed with account of 42.043 million valued at N1.496 billion, Fidelity Bank traded 32.117 million shares cost N264.006 million, United Bank for Africa traded 25.725 million shares worth N496.685 million while Sterling Bank exchanged 19.371 million shares cost N69.984 million.