Equities investors earn N54bn as market halts six days losses

Equities trading at the Nigerian Exchange Limited (NGX), on Tuesday, closed positively as the benchmark index inched up, howbeit marginally.

Basically, the bulls dominated the market to halt the six days consecutive bearish trend at the local bourse as the All Share Index (ASI) appreciated by 0.02 per cent to settle at 42,018.92 basis points.

This brought the month-to-date and year-to-date outings of the ASI to stand at -2.84 per cent and 4.34 per cent respectively.

Consequently, equities investors earned N54 billion in the session as the market capitalisation settled at N21.925 trillion at the end of the day’s activities.

Market breadth also closed in favour of the bulls with 20 counters in the gainers’ chart pitted against 19 counters in the losers’ chart.

On the performance chart for the day under review, Abbey was the best performing stock, flanked by Meyer, NEM Insurance, Academy Press and Royal Exchange to complete the list of the top five gainers.

From the rear of the chart, GlaxoSmithKline shed the most weight to lead the laggards’ chart as it is flanked by Seplat, Jaiz Bank, Dangote Sugar and Japaul Gold to complete the top losers’ chart.

Sectorial indices, however, closed in mixed direction with the ASI, with Insurance Index gaining 1.14 per cent to become the best performing sector, the Oil&Gas sector losing 2.70 per cent to become the worst-performing sector, while, NGX Growth and NGX ASEM closed flat.

Market activity as measured by both volume and value gained weight in the session with daily traded volume standing at 639 million units, representing a 51.46 per cent increase from a volume of 422 million units traded in the previous session.

The value of traded stocks inched up by 48.23 per cent in the session to stand at N6.627 billion as against a value of N4.471 billion recorded in the previous trading session.

FBN Holdings dominated the volume charts as the top traded stock by volume for the trading session. This is followed by Sterling Bank, EcoBank Transnational Incorporated, Guaranty Trust Holding Company and Fidelity Bank to complete the list of the five most traded stocks by volume.

With regards to the value of traded stocks, FBN Holdings took the lead of the top five performers as well. It is flanked by GTCO, Seplat, Zenith Bank and Flour Mills of Nigeria.


FALSE! Yoruba Not An Official Language In Brazil

Claim: A national newspaper and multiple online platforms claim Brazil has adopted Yoruba as its official language and that the language would be included in primary and secondary schools curriculum.

Verdict: The claim is false. The content of the article published by these online platforms is not new; it has been recirculated several times and has been debunked.NGX: Equities investors earn N54bn as market halts six days losses

NGX: Equities investors earn N54bn as market halts six days losses

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