NGX: Equities market recovers slightly, gains N20bn in five hours

The Nigerian equities market recovered slightly from previous day’s loss with N20.51 billion gain for investors at the close of trading on Tuesday.

This followed a surge in the share prices of stocks like Regency Alliance Insurance, Tripple Gee & Co. Plc and Nestle Nigeria amongst others on the trading floor.

The benchmark All-Share Index (ASI) decreased to 109,730.47 points from the 109,697.83 points recorded the previous day.

After five hours of trading at the capital market, the equity capitalisation surged to N68.96 trillion from N68.94 trillion posted by the bourse on Monday.

The market breadth was negative as 31 stocks advanced, 32 stocks declined, and 57 stocks remained unchanged in 18,795 deals.

Regency Alliance Insurance, Tripple Gee & Co. Plc and Nestle Nigeria led other gainers with 10% growth each in prices to close at N0.66, N2.20 and N1,464.00 from the previous N0.60, N2.00 and N1,331.00 per share.

READ ASLO: NGX: Equities market begins week with N7bn loss for investors

Berger Paints, Mutual Benefit, and Associated Bus Company led other price decliners with 9.98%, 9.80% and 9.77% dip in share prices to close at N21.20, N0.92 and N2.40 from the previous N23.55, N1.02 and N2.66 per share.

On the volume index, Fidelity Bank Plc led trading with 60 million shares in 1,277 deals, followed by UBA Plc (UBA), which traded 36 million shares in 828 deals.

Custodian & Allied Plc traded 35 million shares in 121 deals.

On the value index, Aradel Holdings traded stocks valued at N2.2 billion in 946 deals, followed by UBA Plc (UBA), which traded equities worth N1.2 billion in 828 deals.

Fidelity Bank Plc traded shares valued at N1.1 billion in 1,277 deals.

By: Babajide Okeowo

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