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HomeBusinessNigeria's equity sustains bull runs with market value up N53 bln

Nigeria’s equity sustains bull runs with market value up N53 bln

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By Ifeyinwa Ezeokoli 

The Nigerian equity market on Tuesday maintained the bull run bringing the capitalisation up by N53 billion on buying interest in BUA Cement Plc and 15 other listed companies.

The All-Share Index (ASI) rose by 96.46 points representing an increase of 0.20 percent to close at 48,366.69 points.

Accordingly, the month-to-date and year-to-date returns printed 1.5 percent and 13.2 percent, respectively.

The market cap of equities listed on the NGX increased to N26.344 trillion from N26.291 trillion as on the previous close.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; BUA Cement, Ecobank Transnational Incorporated (ETI), NASCON,  Allied Industries, Nigerian Exchange (NGX) and Champion Breweries.

Market sentiment, as measured by market breadth was positive with 16 gainers in relative to 13 decliners.

Honeywell Flour Mills dominated the gainers’ chart in percentage terms with 8.06 percent to close at N2.28 per share.

Champion Breweries followed with 7.14 percent to close at N3.75, while ETI rose by 4.98 percent to close at N10.55 per share.

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Lasaco Assurance went up by 4.71 percent to close at 89k,  while R.T. Briscoe Nigeria appreciated by 4.00 percent to close at 26k per share.

On the other hand, UACN Property Development Company (UPDC) led the losers’ chart in percentage terms by 7.07 percent to close at 92k per share.

Wema Bank followed with 6.12 percent to close at N3.22, while FTN Cocoa processors depreciated by 3.33 percent to close at 29k per share.

Wapic Insurance declined by 2.63 percent to close at 37k, while Oando depreciated by 2.50 percent to close at N3.90 per share.

However, the total volume of trades decreased by 71.16 percent to 184.66 million units valued at N3.57 billion exchanged in 3,189 deals.

Transactions in the shares of FBN Holdings topped the activity chart with 66.11 million shares valued at N727.03 million.

Transcorp followed with 36.61 million shares worth N43.45 million, while Geregu Power traded 17.47 million shares valued at N1.75 billion.

Access Holdings traded 7.35 million shares valued at N62.93 million, while R.T. Rriscoe transacted 5.63 million shares worth N1.51 million.

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