Market Gains Over N1 Trillion as Equities Rally

The Nigerian equities market posted a positive performance on Tuesday as investors added N1.287 trillion to their portfolios.

The rise was driven by renewed interest in Dangote Cement, NCR Nigeria, International Breweries, Livestock Feeds, Daar Communications and 22 other advancing stocks.

Market capitalisation, which opened at N91.089 trillion, increased by N1.287 trillion or 1.41 per cent to close at N92.376 trillion.

In mixed trading, the All-Share Index grew by 1.20 per cent or 1,718.03 points to finish at 144,928.36, up from 143,210.33.

The year-to-date return rose to 40.81 per cent, while market breadth closed positive with 27 gainers against 20 losers.

Dangote Cement topped the gainers’ chart by 9.99 per cent at N588, while NCR Nigeria advanced by 9.98 per cent to settle at N66.10.

International Breweries appreciated by 9.66 per cent to close at N11.35 per share during the session.

Livestock Feeds grew by 8.33 per cent to finish at N6.50, while Daar Communications rose by 8.14 per cent to 93k per share.

Ikeja Hotel led the losers by 9.92 per cent, closing at N28.60, while Legend Internet shed 9.91 per cent to end at N5.

Livingtrust Mortgage Bank declined by 9.78 per cent, finishing at N3.23 per share during the day’s trading.

WAPIC Insurance fell by 6.72 per cent to N2.36, while FTN Cocoa Processors dropped by 5.10 per cent to N4.65 per share.

Market activity showed reduced volume and deal count but improved value, with 606.3 million shares worth N39.7 billion traded across 14,791 deals.

This contrasted with 1.47 billion shares valued at N18.7 billion exchanged in 28,956 deals on Monday.

Access Corporation recorded the highest volume with 310.25 million shares, while Seplat Energy posted the highest value at N22.48 billion.

(NAN)