Business
Equities market sustains bullish momentum with N26bn profit for investors
The equities market sustained its bullish momentum with N26 billion profit for investors at the close of trading on Tuesday.
This followed a surge in the share prices of stocks like MAY and BAKER, MBENEFIT, and ETRANZACT amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization rose to ₦66.2 trillion from ₦66.1 trillion posted by the bourse on Monday.
The benchmark All-Share Index (ASI) increased to 105,593.28 points from 105,551.39 points recorded the previous day.
The market breadth was positive as 29 stocks advanced and 20 stocks declined, while 70 stocks remained unchanged in 12,450 deals.
MAY and BAKER, MBENEFIT and ETRANZACT led other gainers with 10%, 9.59% and 9.38% growth each in prices to close at N8.80, N0.80 and N5.25 from the previous N8.00, N0.73 and N4.80 per share.
READ ALSO: NGX: Equities market rebounds from losses with N66bn gain for investors
ETERNA, ROYALEX, and VERITASKAP led other price decliners with 9.21%, 7.95% and 5.98% dip in share prices to close at N34.50, N0.81 and N1.10 from the previous N38.00, N0.88 and N1.17 per share.
On the volume index, ACCESS CORP led trading with 36 million shares in 873 deals followed by UBA which traded 26 million shares in 883 deals.
UNIVERSAL INSURANCE traded 22 million shares in 65 deals.
On the value index, GEREGU traded stocks worth N8.2 billion in 121 deals followed by UBA which traded equities worth N1 billion in 883 deals.
ZENITH BANK traded shares valued at N970 million in 639 deals.
By: Babajide Okeowo
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