NGX: Equity markets bounce back as investors gain N3.3tr

Investors in the Nigerian equity market gained N3.3 trillion at the close of trading on Tuesday to bounce back from the previous day’s losses.

This follows a surge in the prices of shares such as IMG, FTN Cocoa and Wapco on the stock exchange floor.

The benchmark All-Share Index (ASI) index increased to 228,740.19 points from 223,602.29 points on the previous trading day.

After five hours of trading on the capital market, equity capitalization jumped to N147.2 trillion from N143.9 trillion recorded by the exchange on Monday.

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Market breadth was positive, with 39 stocks advancing, 37 declining, and 72 stocks unchanged in 72,886 transactions.

A total of 907,962,492 shares were traded worth N68.2 billion.

IMG, FTN Cocoa and Wapco led the gainers chart, with share price growth of 10% each, closing at N39.60, N5.50 and N324.50 per share, up from N36.00, N5.00 and N295.00 per share.

UBA, Trans Expr and Jaiz Bank led the rest of the price declines, with falls of 10%, 9.99% and 8.98% respectively, closing at N44.55, N6.40 and N8.01 per share, down from N49.50, N7.11 and N8.80 per share respectively.

On the volume index, Access Holding led trading with 219 million shares in 4,493 transactions, followed by Fidelity Bank which traded 64 million shares in 1,540 transactions.

Wema Bank traded 49 million shares in 1,633 transactions.

On the value index, Nestle traded shares worth N15.2 billion in 274 transactions, followed by Aradel, which traded equities worth N8.6 billion in 2,779 transactions.

Access Holding traded shares worth N5.7 billion in 4,493 transactions.

Babajide Okeowo