Investors Gain N126BN as Local Bourse Rebounds

Sentiments in the local bourse turned positive as the All-Share Index (ASI) increased by 0.4% to close at 56,038.85 basis points at the end of Tuesday’s trading session.

The performance was buoyed by bargain hunting in AIRTELAFRI which gained 2% in its share price and consequently jacked led other bulls to jack up the equity market capitalisation to N30.514 trillion.

As a result, the Month-to-Date and Year-to-Date returns increased to +0.5% and +9.3%, respectively.

The total volume traded declined by 12.8% to 322.49 million units, valued at N5.82 billion, and exchanged in 6,165 deals.

UBA was the most traded stock by volume at 47.13 million units, while AIRTELAFRI was the most traded stock by value at N1.76 billion.

Analysing by sectors, the Oil & Gas (+1.0%), Insurance (+0.6%), and Consumer Goods (+0.2%) indices posted gains, while the Industrial Goods index remained unchanged. The Banking (-0.1%) index was the sole loser of the day.

Performance at the local bourse for the day showed that in terms  of market breadth, market sentiment was positive (1.2x), as 28 tickers gained relative to 24 losers.

ETRANZACT (+10.0%) and ETERNA (+9.9%) recorded the most significant gains of the day, while JOHNHOLT (-9.9%) and MULTIVERSE (-9.5%) topped the losers’ list.