NGX: Equity market maintains bullish trend as investors earn N104 billion

Investors in the Nigerian equity market made a gain of N104 billion at the close of trading on Tuesday.

This follows a surge in the prices of stocks such as NIDF (Nigerian Infrastructure Debt Fund), FBNH (FBN Holdings Plc), and ELLAH LAKES (Ellah Lakes Plc) among others on the trading floor.

After five hours of trading in the capital market, equity capitalization increased to N56.64 trillion from N56.53 trillion recorded by the bourse on Monday.

The benchmark All-Share Index (ASI) rose to 98,568.59 points from 98,386.60 points recorded on Monday.

Market breadth was positive as 35 stocks advanced and 21 stocks declined, while 61 stocks remained unchanged in 12,081 trades.

NIDF, FBNH and ELLAH LAKES led the other gainers with share price growth of 9.94%, 9.93% and 9.76% respectively to close at N111.70, N31.00 and N3.71 from N101.60, N28.20 and N3.38 per share respectively.

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On the other hand, OANDO, OKOMU OIL, CAVERTON led other price decliners as they dropped by 10%, 9.98% and 9.88% respectively to close at N72.00, N376.00 and N3.65 from initial prices of N80.00, N417.70 and N4.05 per share.

On the volume index, Fidelity Bank led the trade with 126 million shares worth N2 billion in 902 deals followed by Transcorp which traded 103 million shares worth N1.1 billion in 406 deals.

UBA traded 73 million shares worth N1.8 billion in 839 transactions.

On the value index, Fidelity Bank recorded the highest value for daily traded equities worth N2 billion in 902 transactions followed by UBA which traded equities worth N1.8 billion in 839 transactions.

OANDO traded shares worth N1.4 billion in 1,085 transactions.

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