NGX: Equity market rebounds as investors gain N195bn

Investors in the Nigerian equities market went home with N195 billion at the close of trading on Tuesday.

This followed a boom in the share prices of NAHCO, CAP, UACN, and Learn Africa amongst others at the close of trading today.

Similarly, the NGX-All-Share Index (ASI) increased to 98,225.63 from 97,879.94 recorded the previous day.

After five hours of trading at the capital market, the equity capitalization increased to N55.5 trillion from N55.3 trillion posted by the bourse on Monday.

The market breadth was positive as 27 stocks advanced, 18 declined, while 78 others remained unchanged in 9,350 deals.

Consolidated and Allied Products (CAP), Nigerian Aviation Handling Company (NAHCO), Learn Africa, and UAC Nigeria led other gainers with 10% growth in share price close at N28.60, N36.30, N3.30, and N14.85 from the previous N26.00, N33.00, N3.00, and N13.50 per share.

Conoil, Julius Berger Nigeria, and Morison Industries also grew their share prices by 9.96%, 9.94%, and 8.87% respectively.

On the flipside, Dangote Sugar Refinery led other price decliners as it shed 10% off its share price to close at N38.90 from the previous N43.20 per share.

Computer Warehouse Group CWG, Vitafoam Nigeria, and Honeywell Flourmills completed the list of losers in today’s trading with 9.82%, 9.81%, and 9.74% cut in their share prices.

On the volume index, Guaranty Trust Holding Company (GTCO) traded 245.460 million shares valued at N7.9 billion in 470 deals followed by First Bank of Nigeria Holding (FBNH) which traded 44.829 million shares worth N1.079 billion in 512 deals.

Access Holdings traded 42.647 million shares valued at N724.1 million in 784 deals.

Like the volume index, GTCO also recorded the highest value for the day, trading equities worth N7.9 billion in 470 deals followed by FBNH which traded stocks worth N1.091 billion in 521 deals.

Access Corp traded equities worth N727 million in 800 deals.

By: Babajide Okeowo

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