NGX: Equities market continues to rebound, investors gain N710bn

The equities market continued to rebound as investors gained N710bn at the end of trading on Tuesday.

This followed the surge in the share prices of stocks such as Sunu Assurance, UACN, and Oando, among others, on the trading floor.

The benchmark All-Share Index (ASI) increased to 196,621.96 points from the 195,514.23 points recorded on the previous trading day.

After five hours of trading at the capital market, the equity capitalisation increased to N126.1 trillion from N125.4 trillion posted by the bourse on Monday.

The market breadth was negative, with 36 stocks advancing, 38 declining, and 73 remaining unchanged in 86,761 deals.

A total of 880,007,272 shares were traded, valued at N44.5 billion.

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Sunu Assurance, UACN, and Oando led the gainers’ chart, with 10%, 10% and 9.96% growth in share prices, respectively, to close at N4.84, N106.70, and N50.25 per share, up from N4.40, N97.00, and N45.70 per share.

Fidson, Mecure, and Aluminium Extrusion led other price decliners with a 10%, 9.95% and 9.88% dip each in price to close at N81.00, N68.30, and N15.50 per share, down from the previous N90.00, N75.85, and N17.20 per share.

On the volume index, FTG Insure led trading with 58 million shares in 598 deals, followed by Sterling Bank, which traded 50 million shares in 773 deals.

Japaul Gold traded 44 million shares in 1,665 deals.

On the value index, Aradel traded stocks valued at N7.8 billion in 3, 247 deals, followed by MTN Nigeria, which traded equities worth N4.0 billion in 7,189 deals.

Bua Foods traded shares valued at N3.7 billion in 1,200 deals.

Babajide Okeowo

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