Tantaliser, Livestock Feeds lift equity market to over N16bn gain

Profits recorded by Tantaliser, Livestock Feeds, and Neimeth International Pharmaceuticals, spurred the Nigerian Exchange to N16.53bn gain on Monday.

The bourse’s uptick was driven by an 8.89 per cent appreciation in Tantaliser, Livestock Feeds (8.18 per cent), Neimeth International Pharmaceuticals (8.05 per cent).

At the close of trading, the market capitalisation increased by 0.03 per cent to N56.95tn from N56.93tn recorded on Friday.

The All Share Index appreciated by 0.03 per cent, settling at 100,568.60 points from the previous close of 100,539.40 points on Friday.

This brought the year-to-date return to 34.49 per cent.

Investors traded 335,704,787 units of shares valued at N3.72bn in 8,760 deals

Monday’s trading activities were bullish, with 23 gainers compared to 15 losers.

The volume of trade also dipped by 79.89 per cent to 335,704,787 million, while the number of deals executed also reduced to 8,760 from 9,988 deals on Friday.

Leading the losers’ chart were Caverton Offshore Support Group, Royalex Exchange Group, and Veritas Kapital Assurance, which lost 9.68 per cent, 6.94 per cent and 4.72 per cent to close at N 0.15, N0.05, respectively

Ellah Lakes led the charts in terms of volume of trade, with 110.67 million units worth N332.02m traded in 53 deals, followed by Universal Insurance with 21.89 million units valued at N7.48m exchanged in 46 trades.

United Capital led the value chart with N778.61bn worth of shares in 984 deals, followed by Zenith Bank with N377.83bn in 389 deals traded.

Last week, the Nigerian equity market was in the green zone, as investors gained N512bn.

The market capitalization and All-Share Index soared by up 0.87 per cent and 0.86 per cent to close the week at N56.929tn and 100,539.40 points, respectively.