Equities market appreciates by 0.5% on investors demand for Airtel Africa
The Nigerian equities market closed Tuesday trading session on a positive note as gains in Airtel Africa Plc drove the All-Share Index higher by 0.5per cent to 244,700.80 basis points.
Consequently, the ASI Month-to-Date and Year-to-Date returns settled at -2.3per cent and +57.3per cent, respectively.
As measured by market breadth, market sentiment was neutral (1.0x), as 31 stocks gained relative to 32 losers. Airtel Africa Plc(+10per cent) and Intenegins (+9.9per cent) led the gainers, while Learn Africa (-10per cent) and NAHCO (-10per cent) recorded the highest losses of the day.
The total volume traded increased by 66.7per cent to 1.20 billion units, valued at N51.35 billion, and exchanged in 52,207 deals. Sterling Holdings was the most traded stock by volume at 715.66 million units, while Aradel was the most traded stock by value at N13.25 billion.
Sectoral performance was mixed as the Banking (+1.3per cent) and Insurance (+0.2per cent) indices advanced, while the Industrial Goods (-1.0per cent), Consumer Goods (-0.8per cent) and Oil & Gas (-0.6per cent) indices closed lower.
