Equities market sustains bullish run as investors gain N467bn

The Nigerian equities market sustained its bullish run as investors raked in another N467 billion in profits at the close of trading on Thursday.

This followed a surge in the share prices of stocks like MRS OIL, ARADEL, UACN, and HONEY FLOUR amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalization surged to N61.248 billion from N60.908 trillion recorded by the bourse on Wednesday.

The benchmark All-Share Index (ASI) increased to 101,248.02 from 100,477.46 points recorded the previous day.

The market breadth was positive as 47 stocks advanced and 17 stocks declined, while 55 stocks remained unchanged in 10,260 deals.

ARADEL, UACN, and HONEY FLOUR led other gainers with 10% growth each in share prices to close at N730.40, N27.50 and N5.50 from the previous N664.00, N25.00 and N5.00 per share.

TANTALIZER, MULTIVERSE, and JOHN HOLT led other price decliners with 9.77%, 9.73%, and 9.68% decline each in share prices to close at N1.57, N5.1, and N5.88 from the previous N1.74, N5.65 and N6.51 per share.

On the volume index, UNIVERSAL INSURANCE led trading with 38 million shares in 123 deals followed by AIICO which traded 20 million shares in 180 deals.

UNIVERSAL INSURANCE traded 20 million shares in 211 deals.

On the value index, ARADEL traded stock worth N3 billion in 682 deals followed by DANGOTE CEMENT which traded equities worth N2.3 billion in 181 deals.

SEPLAT traded shares valued at N2.2 billion in 56 deals.

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