Equity market gains N426bnBy

The domestic equity market on Tuesday closed northward, appreciating by N426 billion as the bull dominated the trading for the day.

Market capitalisation of listed equities increased by 0.64 per cent to N66.495 trillion from N66.069 trillion reported on Monday.

The NGX All Share Index also appreciated by 683.65 basis points to 106574.98 points from 105891.33 points traded the previous day.

The market was driven by gains in the shares of Transcorps, Betaglass, VFG group, Eterna Plc and 36 other firms.

As a result, year to date return went up to 3.54 per cent as 40 companies took positive direction against 25 firms that closed in red.

A review of the trading during the day showed that EllahLakes led gainers table with 10 per cent to close at N3.63 per share, Honeywell Floor Mills and Eterna Plc followed with 9.93 per cent to close at N3.63 per unit, N11.51 and N44.30 per share. Academy Press followed with a gain of 9.70 per cent to close at N3.28 per unit while Ikeja Hotel added 9.31 per cent to close at N13.50 per share.

On the contrary, International General Insurance topped losers’ chart, dropping 9.79 per cent to close at N2.03 per unit, Eunisell trailed with a loss of 9.74 per cent to close at N12.05 per unit, Sovereign Trust Insurance fell by 9.02 per cent to close at N1.21 per unit, Guinea Insurance down by 5.88 per cent to close at N0.80 per unit, Neimeth international Pharmaceutical declined 5.03 per cent to close at N3.21 per share.

Volume of trades declined by 88.681 million, representing 15.63 per cent as investors traded 478.607 million shares worth N11.762 billion from N567.288 million shares cost N10.413 billion in 17843 deals.

Transactions in the shares of Access Holding Company led market activities with 38.729 million shares valued at N1.084 billion, Transcorps followed with 35.236 million shares worth N2.103 billion, Veritas Kapital traded 26.002 million shares valued at N30.643 million, AIICO Insurance exchanged 21.403 million shares cost N37.102 million, Zenith Bank traded 20.804 million shares valued at N1.002 billion.