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Equities market on a roll as investors rake in N259bn profit



For the fourth consecutive day this week, the Nigerian equities continued its positive momentum on Thursday, May 30, 2024 as investors raked in a profit of N259bn at the end of trading activities.

This follows an increase in the share price of stocks like Seplat, INTENEGINS and Eterna amongst others.

Similarly, the NGX-All-Share Index ASI increased to 99,276.03 from 98,818.04 at the close of the previous trading day.

After five hours of trading at the capital market, the equity capitalization increased to N56.158 trillion from N55.899 trillion posted by the bourse on Wednesday.

The market breadth was positive as 32 stocks advanced, 12 stocks declined, while 73 stocks remained unchanged in 7,990 deals.

READ ALSO:NGX: Stock market recovery short-lived as investors lose N199bn

Seplat, INTENEGINS and Eterna led other gainers with 10%, 10% and 9.87% growth each to close at N3,410.00, N1.54, and N12.25 from their previous prices of N3,100.00, N1.40, and N11.15 respectively.

On the flip side, Cornerstone, International Breweries and Prestige led other price decliners as they shed 8.81%, 8.75% and 8.47% each to close at N1.76, N3.65 and N0.54 from the initial prices of N1.93, N4.00 and N0.59% respectively.

On the volume index, ACCESSCORP traded 51.777 million units of its shares in 754 deals, valued at N890mn followed by ZENITHBANK which traded 39.227 million units of its shares in 509 deals, valued at N1.306bn and UNIVINSURE which traded 21.187 million units of its shares in 56 deals, valued at N727mn.

On the value index, ZENITHBANK recorded the highest value for the day trading stocks worth N1.306bn in 509 deals followed by ACCESSCORP which traded equities worth N890mn in 754 deals and SEPLAT which traded stocks worth N602mn in 67 deals.

By; Babajide Okeowo

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