Equities market gains N651.78bn amid demand for Aradel Holdings

Following high demand for Aradel Holdings Plc, the Nigerian equities market gained N651.78 billion on Tuesday  to sustain its positive momentum for the second consecutive days’ session this week. 

As the stock price of Aradel Holdings on the Nigerian Exchange Limited (NGX) gained 9.62per cent to close  at N1,550.00 per share, the market capitalisation of listed companies closed at N158.399 trillion, about N651.78billion increase from N157.747 trillion it closed for trading on Monday.  

The NGX Al Share Index moved to 244,304.51 basis points, representing an increase of 0.41 per cent or 1,005.27 basis points from 243,299.24 basis points the equities market opened for trading.

Looking ahead, Cowry Assets Management Limited said, “the market is expected to tread cautiously as investors maintain mixed interests across sector indices following the commencement of Dangote Refinery IPO.”