Omo, e be like say investors dey catch fire for Nigerian equities market! Na so the market close on Tuesday with wahala gain of N1.662 trillion. This na big one o! As the market dey enjoy 22 days straight of bullish vibes, e don show say investors dey believe again.
Market cap no dey play, e rise from N104.520 trillion wey dem record before to N106.182 trillion. Na 1.59% increase wey make All-Share Index (ASI) follow join party gain 2,592.64 points, close for 165,837.33. This one mean say we don dey for 6.57% return since January start, abi na wetin dem dey call ‘year-to-date return’.
As usual, some companies shine while some dey cry for corner. MTN Nigeria, PZ Cussons, Etranzact, Caverton, and Deap Capital Management lead the gainers table, each of dem chop 10% increase. MTN now dey sell for N605, PZ dey N58.30, Etranzact dey N18.15, Caverton dey N7.70, and Deap finish for N3.63.
But no be all that glitters be gold o! For the losers table, Universal Insurance don drop serious, lose 6.25% to settle for N1.20, while Prestige Assurance and Regency Alliance Insurance also no find level, dey drop around 5%, join Academy Press wey lose 5.06% and Royal Exchange wey dey sell for N1.93 after 3.98% loss.
Na 1.131 billion shares worth N33.5 billion na dem trade for market last Friday, compare to 1.149 billion shares wey worth N19.2 billion. E dey show say market value increase by 75%, but deals don decline by 17%. Anoda big gist be say Sovereign Trust Insurance na the champion for volume, trade 344 million shares. E be like say e sweet for their side.
If you no dey follow all these movement, you fit just dey lose out o! E dey hot everywhere and investors wey sharp dey chop this opportunity like small chops. Make we see how e go be for upcoming sessions as everybody dey rush to jam this bullish wave.
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