Equities market fails to stay on loss path

Nigeria’s equities market on Tuesday failed to sustain preceding day’s negative close as investors buy-side activities pushed the market higher by 0.33percent or N125billion.

Thanks to investor who bought shares of Northern Nigeria Flour Mills (NNFM), Mecure, C& I Leasing, Livingtrust Mortgage Bank and Meyer.

Market watchers had ahead of Tuesday’s trading expected it to revert to a green close in the absence of any major decline in the heavy-weight.

At the close of trading, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its market capitalisation increased respectively to 70,840.72 points and N38.940trillion.

Read also: Equities market moves further high by 0.07%

The market’s year-to-date (YtD) increased to 38.22 percent.

NNFM rallied most after its share price increased from N18 to N19.80, adding N1.80 or 10percent. Also, Mecure rose from N4.31 to N4.74, up by 43kobo or 9.98percent.

C & I Leasing rose from N3.41 to N3.75, up by 34kobo or 9.97percent. Livingtrust increased from N2.71 to N2.98, up by 27kobo or 9.96percent. Meyer rose from N2.71 to N2.98, rising 27kobo or 9.96percent.

The market’s return year-to-date (YtD) increased to 38.29percent. In 6,533 deals, investors exchanged 327,426,214 shares valued at N3.368billion. Japaul Gold, Fidelity Bank, UBA, Oando, and Jaiz Bank were actively traded.