Equities Investors Gain N192bn as Airtel, Nestle Rally
The Nigerian Exchange (NGX) jumps higher on Tuesday as investors reposition across key indices in the local bourse after a slowdown in headline inflation. Stock market cap jumped as Airtel Africa, Nestle and other stocks gained. The market declined on Monday.
According to data from the Nigerian Exchange that the All-Share Index (ASI) gained 352.49 points or 0.67 per cent to close at 52,701.31 from 52,348.82 recorded on Monday.
Also, the market capitalisation gained N192 billion or 0.67 per cent to close at N28.704 trillion as against N28.512 posted at the previous trading. Accordingly, the year-to-date return rose to 2.83 per cent.
The upturn was impacted by the gain recorded in the stock of telecommunications, Airtel Africa. The market breadth measured by market sentiment was positive with 15 gainers relative to 13 losers. >>Stocks Plunge as Nigeria’s Inflation Pressure Slowdown
UPDC Real Estate Investment Trust led the gainers’ chart in percentage terms by 10 per cent to close at 3.30 per share. MRS Oil followed with 9.93 per cent to close at N15.50, while Chellerams grew by 9.92 per cent to close at N1.33 per share.
Sunu Assurances rose 8.82 per cent to close at 37k, while McNichols appreciated by 7.02 per cent to close at 61k per share. On the other hand, UPDC led the losers’ chart in percentage terms by 6.93 per cent to close at 94k per share.
Geregu Power followed with 6.71 per cent to close at N139, while Linkage Assurance dropped by 6.38 to close at 44k per share. Royal Exchange shed 5.26 per cent to close at 90k, while PZ went down by 5.21 per cent to close at N10 per share.
The trade turnover increased by 36.73 per cent to 228.49 million units, valued at N4.44 billion and exchanged in 3,681 deals. Transactions in the shares of Sterling Bank topped the activity chart with 76.74 million shares valued at N118.91 million.
Chams followed with 17.57 million shares worth N5.18 million, while Guaranty Trust Holding Company (GTCO) traded 16.76 million shares valued at N401.98 million. Zenith Bank traded 11.32 million shares valued at N276.03 million, while Royal Exchange transacted 10.65 million shares worth N9.34 million.
The total volume of trades climbed by 2.99% to close at about 228.49 million units and the total value traded was up by 36.62% to close at about N4.44 billion. # Equities Investors Gain N192bn as Airtel, Nestle Rally >>Nestlé Nigeria Exits 13-Digit Valuation, Share Drops 21%