Equities market adds N182bn to maintain positive trend

Trading on the Nigerian equities market on Tuesday closed positive maintaining a three-day bullish trend as the market gained N182 billion.

The All Share Index (ASI) rose by 337.08 points or 0.72 per cent to close at  47,205.03 points, while the overall market capitalisation value gained N182 billion to close at N25.449 trillion.

Market sentiment, as measured by market breadth was positive as 30 stocks gained, relative to 17 losers.  CAP recorded the highest price gain of 10 per cent  to close at N19.80,while Neimeth International Pharmaceuticals followed with a gain 9.86 per cent to close at N1.56, per share.

Berger Paints Nigeria and MEYER Plc rose by 9.68 per cent each to close at N6.80 and N1.36 respectively,  while Learn Africa appreciated by 9.52 per cent to close at N2.07, per share.

On the other hand, Academy Press led the losers’ chart by 10 per cent to close at N1.44, per share. Caverton Offshore Support Group followed with a decline of 9.92 per cent to close at N1.18, while Royal Exchange depreciated by 9.62 per cent  to close at 94 kobo, per share.

Linkage Assurance declined by 7.55 per cent to close at 49 kobo, while Prestige Assurance depreciated by 6.98 per cent to close at 40 kobo, per share.

Also, the total volume of trades increased by 9.3 per cent to 245.422 million units, valued at N4.580 billion, and exchanged in 5,832 deals. Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 39.093 million shares valued at N908.925 million. Zenith Bank followed with 27.208 million shares worth N674.266 million, while Nigerian Breweries traded 15.500 million shares valued at N622.917 million.

Fidelity Bank traded 10.993 million shares valued at N40.840 million, while Linkage Assurance transacted 10.826 million shares worth N5.420 million.