Equities market rebounds, gains N158.34bn
By Temitope Adebayo
The equities market of the Nigerian Exchange Limited (NGX) on Tuesday rebounded from its previous day losses, gaining N158.34billion to close at N36.99trillion, compared to 36.83trillion posted on the first trading day of the week.
Recovering from the previous session’s loss, the Lagos bourse, also, recorded gains as the benchmark index rose by 0.43 per cent to close at 67,326.12 points, as against decline of 0.24 per cent, before closing at 67,037.93 points.
At the close of yesterday trading session, data from the NGX showed that gains in Tier-1 Banking Names, ZENITHBANK (+2.64%), GTCO (+1.15%) and STANBIC (+5.56%) contributed to outweigh losses in NB (-7.38%), ETI (-1.30%) and PRESCO (-0.55%), keeping the market in the green.
Consequently, the year-to-date (YTD) return rose to 31.37 per cent, while market capitalization gained N158.34billion to close at N36.99trillion.
Analysis of the Tuesday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 45.57 per cent.
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A total of 377.97m shares valued at N5.17billion were exchanged in 6,729 deals. UBA (+3.06%) led the volume and value charts with 42.30million units traded in deals worth N796.36million.
Market breadth closed positive at a 1.44-to-1 ratio with advancing issues outnumbering declining ones. JBERGER (+10.00%), topped twenty-two (22) others on the leader’s table, while MULTIVERSE (-9.49%) led fifteen (15) others on the laggard’s table.
