Nigeria’s equities market remained in the green zone on Tuesday October 27 as investors in their buy mood further took advantage of low prices of attractive counters.
Investors booked about N106billion gain amid inflow of funds by local fund managers due to the unattractive yields in the fixed income market.
The market’s positive return year-to-date (YtD) increased to +7.97 percent. At the close of trading session on Tuesday, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) increased by +0.70 percent to close at 28,980.29 points as against preceding trading day low of 28,777.96 points while market capitalisation increased by N106billion, from N15.041trillion to N15.147trillion.
In 5,283 deals, investors exchanged 385,598,796 units valued at N2.914billion. Banking stocks were actively traded, led by FBN Holdings Plc, Access Bank Plc, Fidelity Bank Plc, ETI Plc and UBA Plc.
Flour Mills Nigeria Plc led the gainers after its share price moved from Monday’s low of N24.2 to N26.5, adding 2.39.50 percent.
Conoil Plc followed after its share price rose from N15.8 to N17.35, adding N1.55 or 9.81 percent. Guinness Nigeria Plc increased from N16 to N16.9, adding 90kobo or 5.63 percent.
Cadbury Nigeria Plc also rallied from N7.6 to N8.3, up by 70kobo or 9.21 percent while GTBank increased from N30.65 to N31.25, adding 60kobo or 1.96 percent.
As sectoral performances print further positive, analysts anticipate continued upward performance, though the possibility of profit taking following recent gains cannot be ignored.
