NGX: Equity market bullish move continues as investors rake in N696 billion

Investors in the Nigerian equity market gained N696 billion in early trading on Tuesday.

This follows a surge in the prices of shares such as Bua Cement, Premier Paints and Zenith Bank, among others, on the stock exchange floor.

The benchmark All-Share Index (ASI) index increased to 202,559.41 points from 201,474.89 points recorded on the previous trading day.

After five hours of trading on the capital market, equity capitalization rose to N130 trillion from N129.3 trillion recorded by the exchange on Monday.

Market breadth was positive, with 39 stocks advancing, 34 declining, and 74 stocks unchanged in 62,654 transactions.

A total of 1,751,825,910 shares were traded worth N88 billion.

Bua Cement, Premier Paints and Zenith Bank led the gainers chart, with share price growth of 10%, 9.86% and 7.91% respectively, closing at N325.70, N23.40 and N111.15 per share, up from N297.00, N21.30 and N103.00 per share.

Presco, Caverton and Secure Electronics led the rest of the price declines with price drops of 10%, 8.70% and 7.69% respectively to close at N1,875.60, N6.30 and N1.20 per share, down from the previous N2,083.90, N6.90 and N1.30 per share.

On the volume index, FCMB led trading with 516 million shares in 731 transactions, followed by Wema Bank which traded 213 million shares in 697 transactions.

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Zenith Bank traded 163 million shares in 4,044 transactions.

On the value index, Zenith Bank traded shares worth N18.1 billion in 4,044 transactions, followed by GTCO, which traded equities worth N12.3 billion in 2,636 transactions.

MTN Nigeria traded shares worth N8.9 billion in 5,055 transactions.

Babajide Okeowo