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NGX: Market index up by 108 basis points as investors gain N61bn

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For the second consecutive day on Tuesday, sentiment in the Nigerian equities market remained positive as investors gained N61 billion at the close of trading.

This followed the increase in the share price of Berger Paints, Nestle, and Sovereign Insurance, amongst others on the trading floor today.

After five hours of trading at the capital market, the equity capitalization increased to N55.59 trillion from N55.53 trillion posted by the bourse on Monday.

Similarly, the NGX-All-Share Index (ASI) increased by 108.75 basis points to 98,285.33 from 98,176.58 recorded the previous day.

The market breadth was negative as 19 stocks advanced, 20 declined, while 79 others remained unchanged in 7,228 deals.

Berger Paints, Nestle, and Sovereign Insurance led other gainers with 9.96%, 9.76%, and 8.11% growth in share price to close at N14.90, N900.00, and N0.40 from the previous N13.55, N820.00, and N0.37 per share respectively.

READ ALSO: NGX: Investors lose N132bn as PZ, Dangote Sugar stocks tumble

On the flip side, International Energy Insurance (INTENEGINS), Deap Capital Management & Trust (DEAPCAP), and UPDC led other price decliners as they shed 9.7%, 8.33%, and 7.69% each to close at N1.49, N0.44 and N1.20 from the initial N1.65, N0.48 and N1.30% per share.

On the volume index, GTCO traded 40.638 million shares valued at N1.61 billion in 332 deals followed by Access Corp which traded 27.516 million shares worth N469 million in 712 deals.

UBA traded 23.961 million shares valued at N502 million in 615 deals.

On the value index, GTCO recorded the highest value for the day trading stocks worth N1.61 billion in 332 deals followed by MTN Nigeria which traded equities worth N502 million in 317 deals.

UBA traded stocks worth N502 million in 615 deals.

By: Babajide Okeowo

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