NGX: Equity markets recover as investors gain N1tr

investors in the Nigerian equity market earned N1 trillion at the close of trading on Tuesday.

This follows a surge in the prices of shares such as Airtel Africa, Consolidated Hallmark and John Holt, among others, on the stock exchange floor.

The benchmark All-Share Index (ASI) index increased to 200,705.88 points from 199,014.02 points on the previous trading day.

After five hours of trading on the capital market, equity capitalization fell to N128.8 trillion from N127.7 trillion recorded by the exchange on Monday.

Market breadth was positive, with 37 stocks advancing, 23 declining, and 88 stocks unchanged in 89,949 transactions.

A total of 1,291,527,464 shares were traded worth N65.3 billion.

Airtel Africa, Consolidated Hallmark and John Holt led the gainers chart, with share price growth of 10% each, closing at N2,497.00, N4.95 and N14.30 per share, up from N2,270.00, N4.50 and N13.00 per share.

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NPF Microfinance Bank, Royalex and CWG led the rest of the price declines with price drops of 6.29%, 5.32% and 4.82% respectively to close at N6.56, N1.78 and N20.75 per share, down from the previous N7.00, N1.88 and N21.80 per share.

On the volume index, Wema Bank led trading with 181 million shares in 1,122 transactions, followed by GTCO which traded 180 million shares in 4,728 transactions.

UBA traded 118 million shares in 2,502 transactions.

On the value index, GTCO traded shares worth N19 billion in 4,728 transactions, followed by UBA, which traded equities worth N5.7 billion in 2,502 transactions.

Wema Bank traded shares worth N4.7 billion in 1,122 transactions.

Babajide Okeowo