Nigerian equities market halts bearish run as ASI adds 0.1%

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The domestic equities market at the Nigerian Exchange Limited (NGX) staged a bullish comeback as the All-Share Index edged up by 0.12 per cent to close at 95,895.92 basis points on Tuesday.

Notably, gains in Oando and Stanbic IBTC Financial Holdings drove the overall positive trading as these high-capitalised stocks appreciated by 9.9 per cent and 6.7 per cent.

Consequently, the MTD and YTD returns printed -1.9 per cent and +28.3 percent, respectively.

With the positive sentiments at the NGX on Tuesday, equities investors gained N65 billion cummulatively, pushing the total market capitalisation to N54.45 trillion.

As measured by market breadth, market sentiment was negative, as 22 tickers lost relative to 19 gainers.In terms of Individual stock performance, Learn Africa, Oando, Cutix, R T Briscoe and University Press led the gainers with impressive share price increases of +9.94 per cent, +9.90 per cent, +9.85 per cent, +9.63 per cent, and +8.57 per cent, respectively.

Conversely, Thomas Wyatt, Omatek Venture, FTN Cocoa Processor, Neimeth Pharmaceutical and The Initaites topped the list of losers having recorded decline in their share prices by 9.71 per cent, 6.85 per cent, 6.80 per cent, 5.00 per cent and 4.44 per cent, respectively.

Sectoral performance was predominantly bullish. The banking, insurance, oil/gas, and industrial goods sectors posted gains of 0.44 percent, 0.23 per cent, 0.43 per cent and 0.02 per cent, respectively, while the consumer goods sector was the sole laggard, dipping by 0.08 per cent.

A breakdown of the analysis of market activities showed trade turnover settled higher relative to the previous session. While the value of transactions gained 0.50 per cent, a total of 1.01billion shares down from 3.55 billion in the previous session, valued at N7.69 billion were exchanged in 8,295 deals. Jaiz Bank led the volume and value charts with 651.29 million units traded in deals worth N1.50 billion.