JUST IN: Equity Market Gain N262 Billion As NGX Extends Bullish Run

JUST IN: Equity Market Gain N262 Billion As NGX Extends Bullish Run—The Nigerian equities market extended its positive performance on Tuesday, opening February with a gain of N262 billion just as the index crossed the 27,000 mark.

Specifically, the market capitalisation gained N262 billion to close at N25.386 trillion from N25.124 trillion achieved on Monday.

Also, the All-Share Index (ASI) increased by 486.54 points or 1.04 per cent to close at 47,111.21 from 46,624.67 trillion

The upturn was due to gains recorded in large and medium capitalised stocks, amongst which are: Seplat Energy, Presco, MTN Nigeria Communications (MTNN), Conoil and Lafarge Africa.

Analysts at Afrinvest Ltd. anticipated an extended bullish run as more corporates release positive earnings result.

The market closed positive as 36 stocks gained relative to 21 losers.

Seplat Energy recorded the highest gain of 10 per cent to close at N869 per share.

Conoil followed with 9.79 per cent to close at N24.10, while Academy Press rose by 9.57 per cent to close at N1.03 per share.

R. T. Briscoe rose by 9.09 per cent to close at 24k, while Presco appreciated by 8.75 per cent to close at N105 per share.

On the other hand, Caverton Offshore Support Group led the losers’ chart by 9.50 per cent to close at N1.62 per share.

Eterna followed with 9.17 per cent to close at N5.45, while NCR shed 9.09 per cent to close at N3 per share.

Japaul Gold and Ventures lost 7.50 per cent to close at 37k, while Ecobank Transnational Incorporated shed 7.20 per cent to close at N11.60 per share.

However, the total volume traded decreased by 21.63 per cent to 341.52 million units valued at N3.69 billion and exchanged in 6,417 deals.

This was in contrast with 435.79 million shares worth N3.44 billion traded in 6,482 deals on Monday.

Transactions in the shares of Transcorp topped the activity chart with 32.11 million shares valued at N37.46 million.

Fidelity Bank followed with 25.16 million shares worth N71.50 million, while Access Bank traded 23.46 million shares valued at N238.28 million.

Guaranty Trust Holding Company (GTCO) traded 21.12 million shares valued at N587.32 million, while Nigerian Exchange Group (NGXGroup) transacted 20.51 million shares worth N502.54 million