NGX: Equity market maintains bullish sentiment as investors rake in N46 billion

Nigeria’s equity market maintained its bullish sentiment on Tuesday as investors made N46 billion at the close of trading for the day.

This follows the rise in share prices of stocks such as IMG, CIL EASING and GUINEAINS among others on the trading floor.

After five hours of trading in the capital market, equity capitalization jumped to N55.67 trillion from N55.60 trillion recorded by the bourse on Monday.

The Composite Stock Price Index (IHSG) also rose to 96,873.74 from 96,793.95 previously.

Market breadth was positive as 29 stocks advanced and 28 stocks declined, while 60 stocks remained unchanged in 12,532 trades.

IMG, CI LEASING and GUINEAINS led the gainers with their share prices growing by 10% to close at N31.90, N4.07 and N0.55 respectively from N29.00, N3.70 and N0.50 per share respectively.

On the other hand, RT Briscoe, Abbeybds and NSL TECH led other price decliners as they fell by 10%, 9.96% and 9.72% respectively to close at N2.88, N2.53 and N0.65 from initial prices of N3.20, N2.81 and N0.72 per share.

On the volume index, ACCESS CORP led the trade with 106 million shares worth N2.04 billion in 444 deals followed by Oando which traded 46 million shares worth N4.31 billion in 858 deals.

PRESTIGE traded 31 million shares worth N16 million in 103 transactions.

On the value index, Oando recorded the highest value for daily traded shares worth N4.3 billion in 2,822 transactions followed by ACCESS CORP which traded equities worth N2.04 billion in 444 transactions.

GTCO traded shares worth N790 million in 273 transactions.

By: Babajide Okeowo

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