Equities market sustain uptrend as investors gain N10bn Tuesday

The Nigerian equities market extended positive outlook on Tuesday with further growth of 0.08 percent.

The All-Share Index inched 21.70 points or 0.08 percent to settle at 27,586.79 against 27,565.09 on Monday.

Also, the market capitalisation of listed equities rose by N10 billion to N13.420 trillion from N13.410 trillion achieved on Monday.

A breakdown of the activity chart indicates that MTN Nigeria Communications led the gainers’ table, growing by N1.50 to close at N140 per share.

International Breweries came second with a gain of N1 to close at N11, while Ecobank Transnational Incorporated increased by 40k to close at N7.70 per share.

United Bank for Africa gained 20k to close at N6.40, while Access Bank appreciated by 20k to close at N6.70 per share.

Conversely, Nestlé Nigeria recorded the highest loss, dropping by N19 to close at N1,300 per share.

Dangote Flour trailed with a loss of 95k to close at N20.05, while Union Bank of Nigeria lost 40k to close at N6.60 per share.

Sterling Bank was down by 20k to close at N2.30, while Flour Mills also shed 20k to close at N13.50 per share.

Similarly, the volume of shares transacted increased by 163.99 per cent with an exchange of 294.41 million valued at N3.49 billion in 3,337 deals.

This was against a total of 111.515 million shares worth N1.560 billion exchanged in 3,122 deals on Monday.

The banking sectors dominated trading activities with United Bank for Africa emerging the toast of investors, exchanging 61.66 million shares valued at N50.60 million.

Access Bank followed with an account of 55.14 million shares worth N369.36 million, while Guaranty Trust Bank sold 52.002 million shares valued at N1.39 billion.

Transcorp sold 26.54 million shares worth N27.03 million, while UACN exchanged 15.71 million shares valued at N74.19 million.