Market recovers, investors gain N10bn

The Nigerian Exchange Limited's downward trend came to an end on Tuesday as the market recovered and investors gained N10 billion.

The market value of shares increased by 0.03 per cent to N29.909 trillion, matching the All Share Index's 0.03 per cent increase to 54, 906.65 from 54, 886.04 on Monday.

In a total of 2,987 transactions on Tuesday, 127.744m shares worth N1.586bn were traded.

At the end of the day's trading, there were 12 stocks on both the gainers' and losers' lists, indicating that market sentiment was unchanged.

Linkage Assurance, Wapic, and Champion were the top gainers, increasing by 9.76%, 7.89%, and 4.26%, respectively, to close at N0.45, N0.41, and N4.90.

Ikeja Hotel, which closed trading at N1.03, was at the top of the losers' table after suffering a 9.65 per cent loss. UPL lost 4.76 per cent of its share price and ended trading at N2.00, while Cadbury lost 5.83 per cent of its share value to settle at N11.30.

Zenith Bank shares were the most actively traded on the NGX, with 11,964,640 shares worth N298.835 million changing hands in 255 transactions. Another financial institution, GTCO, came next. In 252, 10,472,370 million of its shares, worth N 258.239 million, were traded.

The third-most traded stock on Tuesday was MTN Nigeria, with 421,619 of its shares valued at N98.138 million.

Source