NGX: Equities market rebounds as investors gain N917bn

Investors in the Nigerian equities market gained N917 billion by the close of trading on Tuesday, to recover from the previous day’s loss.

This followed a surge in the share prices of stocks such as FTN Cocoa, Zichis and Sky Aviation, among others, on the trading floor.

The benchmark All-Share Index (ASI) increased to 251,635.42 points from the 250,204.83 points recorded on the previous trading day.

After five hours of trading on the capital market, equity capitalisation enjoyed an upward tick to N161.2 trillion from N160.3 trillion posted by the bourse on Monday.

The market breadth was negative, with 27 stocks advancing, 33 declining, and 88 remaining unchanged in 64,539 deals.

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A total of 703,952,616 shares were traded, valued at N32.1 billion.

FTN Cocoa, Zichis and Sky Aviation led the gainers’ chart, with 10%, 9.97% and 9.79% growth in share prices, respectively, to close at N9.79, N29.13 and N156.95 per share, up from N8.90, N26.49 and N142.42 per share.

Unilever, Trans Express, and Sovereign Insurance led other price decliners, with declines of 10%, 9.92%, and 9.81%, respectively, to close at N153.00, N6.99, and N2.39 per share, down from N170.00, N7.76, and N2.65 per share, respectively.

On the volume index, Access Holding Co led trading with 88 million shares in 2,721 deals, followed by Linkage Assurance, which traded 46 million shares in 206 deals.

Sterling Bank traded 44 million shares in 509 deals.

On the value index, Zenith Bank traded stocks valued at N3.9 billion in 3,623 deals, followed by Aradel, which traded equities worth N3.5 billion in 1, 959 deals.

MTNN traded shares valued at N3.1 billion in 4,627 deals.

Babajide Okeowo

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