Equities trading at the Nigerian Exchange Limited (NGX) on Tuesday was somewhat flattish as the benchmark index inched up marginally with two basis points gain to close at 48,568.57 basis points.

Hence, the year-to-date gain of the index rose to 13.70% as investors’ interest in Seplat, FBN Holdings, Wapco and Nigerian Breweries managed to offset selloffs in MTN Nigeria Communication, Guaranty Trust Holding Company, Zenith Bank and United Bank for Africa.

Therefore, equities investors at the local bourse gained $12mln (N5.21bln) as the market capitalization gained settled at $62bln (N26.18trln).

Market breadth closed positive with advancing issues outnumbering declining ones. On the performance chart, Academy Press topped 27 others on the gainer’s log having appreciated in share value by 10.0%, while Multiverse led 22 others on the laggard’s table after depreciating by 8.70%.

In line with the bullish market sentiment, the sub-sector indices were largely positive the NGX Insurance Index, NGX Consumer Goods Index, NGX Oil/ Gas and the NGX Industrial Index rose by 0.88%, 1.10%, 3.35% and 0.03% respectively. However, the NGX Banking Index was moderated by 1.39%.

Meanwhile, an analysis of market activities on Tuesday showed that trade turnover settled higher relative to the previous session, with the value of transactions advancing by 73.58% as a total of 464.73mln shares valued at over $16mln (N7.01bln) were exchanged in 6,468 deals.

Transnational Corporation led the volume chart with 123.82mln units traded, while MTN Nigeria led the value chart in deals worth over $2mln (N2.72bln).

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