Stocks gain N60bn as market routes north

Nigeria’s equities market failed to stay on the negative path on Tuesday as stocks like Africa Prudential, Golden Guinea Breweries, Tantalizers, ABC Transport and other major advancers helped reroute the market northwards.

At the close of trading, the value of listed stocks rose by N60billion while the market increased by 0.10 percent. Except NGX Industrial Index which decreased by 0.84 percent, other sectoral indices closed in green -NGX Banking (+0.29 percent), NGX Consumer Goods (+0.17 percent), NGX Insurance Index (+1.98 percent), and NGX Oil & Gas Index (+1.64 percent).

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The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation increased from preceding day’s lows of 98,107.52 points and N59.471 trillion to 98,206.97 points and N59.531 trillion. The market’s return year-to-date (YtD) stood positive at 31.34 percent.

In 9,098 deals, investors exchanged 939,409,379 shares worth N12.813billion. Coronation Insurance, Sterling Financial Holdings Company, Japaul Gold, UBA and MTNN were most traded stocks.