NGX: Equity markets recover as investors gain N917 billion

Investors in the Nigerian equity market gained N917 billion at the close of trading on Tuesday, to recover from the previous day’s losses.

This follows a surge in the prices of shares such as FTN Cocoa, Zichis and Sky Aviation, among others, on the stock exchange floor.

The benchmark All-Share Index (ASI) index increased to 251,635.42 points from 250,204.83 points on the previous trading day.

After five hours of trading on the capital market, equity capitalization saw an increase to N161.2 trillion from N160.3 trillion recorded by the exchange on Monday.

Market breadth was negative, with 27 stocks rising, 33 declining, and 88 stocks unchanged in 64,539 transactions.

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A total of 703,952,616 shares were traded worth N32.1 billion.

FTN Cocoa, Zichis and Sky Aviation led the gainers chart, with share price growth of 10%, 9.97% and 9.79% respectively, closing at N9.79, N29.13 and N156.95 per share, up from N8.90, N26.49 and N142.42 per share.

Unilever, Trans Express and Sovereign Insurance led the rest of the price declines, with falls of 10%, 9.92% and 9.81% respectively, closing at N153.00, N6.99 and N2.39 per share, down from N170.00, N7.76 and N2.65 per share respectively.

On the volume index, Access Holding Co led trading with 88 million shares in 2,721 transactions, followed by Linkage Assurance, which traded 46 million shares in 206 transactions.

Sterling Bank traded 44 million shares in 509 transactions.

On the value index, Zenith Bank traded shares worth N3.9 billion in 3,623 transactions, followed by Aradel, which traded equities worth N3.5 billion in 1,959 transactions.

MTNN traded shares worth N3.1 billion in 4,627 transactions.

Babajide Okeowo