NGX: Equities market bullish run continues as investors gain N696bn

Investors in the Nigerian equities market gained N696 billion at the beginning of trading on Tuesday.

This followed a surge in the share prices of stocks such as  Bua Cement, Premier Paints and Zenith Bank  among others on the trading floor.

The benchmark All-Share Index (ASI) increased to 202,559.41 points from the 201,474.89 points recorded on the previous trading day.

After five hours of trading on the capital market, equity capitalisation rose to N130 trillion from N129.3 trillion posted by the bourse on Monday.

The market breadth was positive, with 39 stocks advancing, 34 declining, and 74 remaining unchanged in 62,654 deals.

A total of 1,751,825,910 shares were traded, valued at N88 billion.

Bua Cement, Premier Paints and Zenith Bank led the gainers’ chart, with 10%, 9.86% and 7.91% growth each in share prices, respectively, to close at N325.70, N23.40, and N111.15 per share, up from N297.00, N21.30, and N103.00 per share.

Presco, Caverton, and Secure Electronics led other price decliners with a 10%, 8.70% and 7.69% dip each in price to close at N1,875.60, N6.30, and N1.20 per share, down from the previous N2,083.90, N6.90, and N1.30 per share.

On the volume index, FCMB led trading with 516 million shares in 731 deals, followed by Wema Bank, which traded 213 million shares in 697 deals.

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Zenith Bank traded 163 million shares in 4,044 deals.

On the value index, Zenith Bank traded stocks valued at N18.1 billion in 4,044 deals, followed by GTCO, which traded equities worth N12.3 billion in 2,636 deals.

MTN Nigeria traded shares valued at N8.9 billion in 5,055 deals.

Babajide Okeowo

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