NGX: Equity markets continue to recover, investors gain N710 billion

The equity market continued to recover as investors gained N710 billion at the end of trading on Tuesday.

This follows a surge in share prices, including shares such as Sunu Assurance, UACN and Oando on the stock exchange floor.

The benchmark All-Share Index (ASI) index increased to 196,621.96 points from 195,514.23 points on the previous trading day.

After five hours of trading on the capital market, equity capitalization increased to N126.1 trillion from N125.4 trillion recorded by the exchange on Monday.

Market breadth was negative, with 36 stocks rising, 38 declining, and 73 stocks unchanged in 86,761 transactions.

A total of 880,007,272 shares were traded worth N44.5 billion.

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Sunu Assurance, UACN and Oando led the gainers chart, with share price growth of 10%, 10% and 9.96% respectively, closing at N4.84, N106.70 and N50.25 per share, up from N4.40, N97.00 and N45.70 per share.

Fidson, Mecure and Aluminum Extrusion led the rest of the price declines with price drops of 10%, 9.95% and 9.88% respectively to close at N81.00, N68.30 and N15.50 per share, down from the previous N90.00, N75.85 and N17.20 per share.

On the volume index, FTG Insure led trading with 58 million shares in 598 transactions, followed by Sterling Bank which traded 50 million shares in 773 transactions.

Japaul Gold traded 44 million shares in 1,665 transactions.

On the value index, Aradel traded shares worth N7.8 billion in 3,247 transactions, followed by MTN Nigeria, which traded equities worth N4.0 billion in 7,189 transactions.

Bua Foods traded shares worth N3.7 billion in 1,200 transactions.

Babajide Okeowo