• Sunday, June 16, 2024
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Equities rally continues as more investors buy

Total, Flour Mills, Access Holdings cause market’s N324bn gain as week opens

Nigeria’s equities market continued its positive trend on Tuesday by 1.65 percent or N580 billion as bullish sentiment persist on the nation’s Bourse.

This week, the market has increased by 4.17 percent. Following this gain, investors are expected to investors continue to cherry-pick attractive stocks while also taking profit on recent gainers.

Top on Tuesday’s advancers list are counters like Chellarams Plc, FTN Cocoa, and Transcorp Hotels.

Transcorp Hotels rallied most, from N35.91 to N39.50, adding N3.59 or 10 percent, followed by FTN Cocoa which also moved from N3.50 to N3.85, adding 35kobo or 10 percent; and Chellarams which increased from N1.60 to N1.76, adding 16kobo or 10percent.

Read also: Inside NGX Group’s annual report, accounts for year 2022

Stocks like Chams, FCMB Group, Universal Insurance, UBA and Transcorp were actively traded as investors in 8,922 deals exchanged 844,715,909 shares valued at N9.412 billion.

The market’s positive return year-to-date (YtD) stood further high at 28.13 percent. The equities market’s All-Share Index (ASI) and its capitalisation rose from the preceding day’s 64,603.69 points and N35.177 trillion respectively to 65,669.29 points and N35.757 trillion.